This Is Your Tax Burden, Connecticut

Connecticut residents have the sixth highest tax burden in the country, according to a new report by the personal financial website WalletHub.

As a percentage, the tax burden for Nutmeg State residents is 10.23 percent. New York has the highest tax burden in the country, 12.94 percent, followed by Hawaii (11.27 percent), Vermont (10.75), Maine (10.73) and Minnesota (10.24).

"One simple ratio known as the 'tax burden' helps cut through the confusion," writes author Richie Bernardo, senior writer for WalletHub. "Not to be confused with tax rates, which vary widely based on an individual’s particular circumstances, tax burden measures the exact proportion of total personal income that residents pay toward state and local taxes. And it isn’t uniform across the U.S., either."

For the report, WalletHub crunched the numbers for the 50 states focusing on three key criteria to determine tax burden based on share of each on personal income: property tax, individual income tax, and total sales and excise taxes.

To view the report's methodology, click here.

As the states with the lowest tax burdens, Delaware (5.59 percent), Alaska (6.27), Tennessee (6.45), Oklahoma (6.61), and New Hampshire (6.70).

Two of Connecticut's tax burden criteria, property tax and individual income tax, are in the top 10, but as the burden of total sales and excise taxes, the state fares quite well, 41st.

WalletHub's report, "2017 Tax Burden by State," can be viewed by clicking here.

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