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April 6, 2007

Tax Foundation: State & Local Tax Burden Hits All-Time High

Curtis Dubay [430K PDF]:

State and local taxes will consume a record-
setting 11 percent of the nation’s income in 2007. Since 1986, the state-local tax burden had never fallen below 10 percent or risen
above 10.9 percent. Figure 1 charts the course of the nation’s state-local tax burden since 1982.

This estimate of state-local tax burdens at an all-time high comes at a time when personal and corporate incomes have risen for almost
four consecutive years, sometimes at a remarkable pace. Along with low unemployment, these rising incomes have boosted tax collections substantially and helped most states meet their revenue expectations with ease since 2004.

Wisconsin ranked 6th: Tax Burder as a % of Income = 12.3%; 4,736 / 38,639. Via TaxProf.

Posted by Jim Zellmer at April 6, 2007 6:46 AM
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