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Wednesday, March 30, 2022
Hawaii 2nd Highest Tax Burden in USA
By Selected News Articles @ 2:12 AM :: 1936 Views :: Hawaii Statistics, Taxes

 

Overall Rank*  State Total Tax Burden Property Tax Burden Individual Income Tax Burden Total Sales & Excise Tax Burden
(%)  (%)  (%)  (%) 
2 Hawaii 12.70% 2.55% 3.18% 6.97%
-34 -8 -1

 

2022’s Tax Burden by State

WalletHub, Mar 29, 2022

This year, Uncle Sam will take his cut of the past year’s earnings on April 18. Many taxpayers are undoubtedly wondering how this year’s Tax Day will affect their finances, as a lot of people are still struggling financially as a result of the pandemic. Since the tax code is so complicated and has rules based on individual household characteristics, it’s hard for the average person to tell how they will be impacted.

One simple ratio known as the “tax burden” helps cut through the confusion. Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes. And it isn’t uniform across the U.S., either.

To determine the residents with the biggest tax burdens, WalletHub compared the 50 states across the three tax types of state tax burdens — property taxes, individual income taxes and sales and excise taxes — as a share of total personal income in the state….

read … Full Report

KHON: Hawaii ranks second for most tax burden state: Study

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