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Tax News May 2009 - "The High Cost of Taxes – How Does Your State Compare?"

Tax News May 2009 - "The High Cost of Taxes – How Does Your State Compare?"

Tax News May 2009 - "The High Cost of Taxes – How Does Your State Compare?"

Excerpt


The High Cost of Taxes – How Does Your State Compare?



According to the Tax Foundation, on average, Americans paid 9.7% of their income to state and local taxes in 2008. On top of that number, add the amount paid in Federal taxes and you can see that the average American works a good part of the year to fund the government - approximately 28.2% of the year, according to the Tax Foundation. Where you live, however, can have a significant effect on your tax bill, so we thought you might want to know the effect state taxes have on your pocketbook.


  


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