10 Worst States for Taxes in 2014

Page 1 of 11

Few things are more dreaded by US citizens than the infamous tax season. But even though taxes only seem to be getting higher each and every year, not all states in the US fare equally when it comes to this department. Each state and municipality is allowed to set its own fees and taxes, which accounts for why your tax return can look completely different depending on whether you’re living in Indiana or New York.

Earlier we have presented you a list of ten best states for taxes. Today, we would like to present you with a list we have compiled of the 10 worst states for taxes in 2014, based on a report released in October of 2013 by the Tax Foundation. The following states are ranked according to their income, sales, and property taxes.

New York, which emerged as 2014’s leading state can in no way be considered a tax haven. While its sales taxes, which rank at 4%, are by no means the highest in the country, New York more than makes up for it when it comes to individual income tax rates of 8.82%. Nonetheless, there is still hope for New Yorkers, as Governor Andrew Cuomo has announced that officials are actively attempting to find ways to transform and re-write the state’s tax code. Whether New York citizens will find any relief from this proposed new tax code remains to be seen.

New York’s close neighbor, New Jersey almost managed to beat the former for the title of worst tax state, thanks to the reduction in its tax relief program, which was initially aimed at helping homeowners pay their property taxes. Given this situation, New Jersey still remains the state with the highest property tax in the country in 2014.

California wraps up our top three, with one of the highest income tax rates in the country – 13.3%. In addition, its sales taxes, of 7.5% are not exactly on the low-side either.

Curious to see which are the other states that have made it on this year’s list of worst states for taxes? Let’s take a look at the countdown.

Page 1 of 11
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!