Most of us have our tax refund check, unless you owed… and hopefully the refund is in the bank account–or if not, then at least maybe you have a strategy for a better year. Since part of that strategy could be moving to a more tax-friendly state, Forbes set out to find out which states offer the most favorable tax situations.
Using data from the Tax Foundation, Forbes ranked the total tax burden in each state. The ranking includes income, property, and sales tax, as well as special taxes like real estate transfer taxes, personal property taxes on some vehicles, and special tax district fees.
No. 21: Virginia
- State and local tax burden: 9.20%
- Effective state tax rate ($50,000 taxable income): 5.24%
- Highest tax bracket: $17,000
- Rate at highest tax bracket: 5.75%
- Per Capita Income: $48,498