Study Examines Tax Burden in US
Runzheimer International has released a study showing the tax burden around the United States. Residents of Philadelphia have the highest tax burden as "a family of four with an annual income of $75,000 can expect to bequeath an average of $19,992, or 26.7% of total income, annually toward taxes after all personal exemptions and allowable deductions have been considered." Following Philadelphia are: Cleveland with taxes amounting to 26.1% of income; New York with 25.1%; and Chicago close behind at 25%.
And where was the lowest tax burden found? Honolulu, Hawaii with a tax burden of 16%; followed by Casper, Wyoming with 17.4%; and Anchorage, Alaska taxed at a rate of 17.9% of total income. (The study notes that both Wyoming and Alaska have no state income tax.)
To read more, including a chart listing 50 cities, go here: Runzheimer tax burden analysis