Tax Guru-Ker$tetter Letter

Friday, April 26, 2002

State Of Freedom

You can see the state by state schedule of when the average taxpayers finish their annual slavery duties and are allowed to work for themselves instead of their masters in government.

What is important is to look at the overall tax burden, and not just the income taxes, which too many people fixate on. It's no surprise that Connecticut has the highest tax burden, and latest Tax Freedom Day. However, Washington State, which has no income tax of its own, is ranked with the second highest tax burden because of its high sales and property taxes. That's why I tell people who ask which states have the lowest taxes that it's impossible to give a one size fits all answer. It depends on individual circumstances.

However, based on this chart, Alaska has the lowest overall tax burden. In fact, Alaska residents actually receive money from the government as part of the oil revenues. This should be even more generous if the ANWR oil reserves are ever allowed to be utilized.

KMK
- posted by Kerry M. Kerstetter, MBA~CPA~ATP~ATA @ 4/26/2002 05:43:00 PM Send this post: