Wyoming is One of the Top 10 Most Tax-Friendly States
As the energy sector has put the big chill on Wyoming's economy, at least there is some good news for those making their home in the cowboy state.
Despite the decline in the price of oil and the low but stable price of natural gas, mineral rights revenue has helped to keep tax rates low across Wyoming.
The Kiplinger list states that Wyomingites, enjoy no income tax and low property taxes. The median home value in Wyoming is $195,500 and that figure is the eighth lowest in the U.S.
Wyoming also enjoys the lowest tax rate on beer in the U.S., as well as being almost .30 cents below the national average on gasoline taxes.
Here are the top ten tax-friendly states:
Here are the 10 Least Tax-Friendly States:
- New Jersey
- New York
- Rhode Island
Kiplinger’s Tax Map is a sister project to Kiplinger’s annualRetiree Tax Map—which presents each state’s income taxes on investment income, retirement-plan withdrawals and Social Security benefits, plus a rundown of sales taxes, property taxes and estate and inheritance taxes.