How Does Idaho Tax Burdens Compare to Other States?
April is officially here and while many will enjoy the spring weather, spring activities, and Easter, it also brings with it one of the worst days of the year, and that is tax day. Americans dread having to do their taxes, but sometimes it can be a good thing. If you are lucky enough to get a good amount of money back, then it may all be worth the headache of filing them, but sometimes you owe money and it can be daunting to figure everything out. While taxes may seem like a pain, they can always be worse.
Ranking States with the Highest Tax Burden
WalletHub recently released a list of states with the highest tax burden in the United States, and it should have Idahoans feeling much better as they finish their taxes this month if they haven't already. Not surprisingly, New York was number one, Hawaii was number two and Maine came in at number three. Idaho was ranked as the 40th state with the highest tax burden, meaning we are one of the top ten when it comes to the lowest tax burden in the United States.
Where Do Our Neighbor States Fall?
The list breaks down individual tax, property tax, and sales tax. For those wondering where our neighboring states fell, Utah has the 15th highest tax burden, while Wyoming came in at 47 and Montana at 43. The lowest tax burden states consisted of Alaska with the lowest, beating out Tennessee at 49 and Delaware at 48. If you want to see the full list, make sure to click the link above.
While Idaho may not have the lowest tax burden in the country, being in the bottom ten makes it one of the best places to live financially. If you do decide to move away in the future, make sure to check out this list, as it will affect your wallet going forward. Make sure to get your taxes done if you haven't already, and know that if it doesn't end with a big refund, it could always be worse. Imagine if you lived in New York or one of the other 39 states ranked higher.