Wyoming Rated The Most Tax Friendly State
Wyomingites have been feeling the decline of the economy over the last few years with oil and coal workers being laid off. On the flip side, we do enjoy the lowest tax rates in the country.
In a recent study done by Kiplinger, Wyoming tops the list of the for the most tax friendly state. According to the Tax Foundation, this is primarily due to abundant revenues that the state collects from oil and mineral rights. Our sales tax is a 5%, with a maximum local levy of 2%, which is a combined rate of 5.41%. The Cowboy State also enjoys no state income tax. Even our sin tax (a tax on tobacco and alcoholic beverages) is one of the lowest in the union.
The 10 Most Tax-Friendly States:
7. South Carolina
8. South Dakota
The 10 Least Tax-Friendly States:
4. New York
5. New Jersey
10. Rhode Island