Tax Rates to Celebrate

Share on facebook
Share on twitter
Share on linkedin

If tax day has you down, look on the bright side: You live in Florida. Floridians have it lucky, as residents of the Sunshine State have one of the lowest tax burdens in the country. The lack of a state income tax means Florida primarily gets its tax revenues via sales tax—thanks, tourists! Plus, local property taxes typically tend to be a relatively low percentage of income.

Florida has the sixth smallest tax burden on residents, according to a study of Census data from Hire A Helper. About 6% of income goes toward property, sales and (state) income taxes in Florida. Compare that to New York, where that figure is more than 12%. Alaska actually has the lowest tax burden on residents, due to its emphasis on taxing oil and natural gas production to generate revenue for the state, according to the study.

 

GET SOUTHWEST FLORIDA'S BEST VIEW OF BUSINESS STRAIGHT TO YOUR INBOX.

You May Also Like