LIHUE — Living in paradise comes with high taxes. In a recent study, analysts at WalletHub compared the 50 states by three tax types that create a burden on residents — property taxes, individual income taxes and sales and excise
LIHUE — Living in paradise comes with high taxes.
In a recent study, analysts at WalletHub compared the 50 states by three tax types that create a burden on residents — property taxes, individual income taxes and sales and excise taxes — as a percentage of total personal income in the state.
And, according to the study, Hawaii scored above average in two of three components that make up an aggressive state tax burden.
For total sales and excise tax burden, Hawaii beat the rest of the country, coming in at 6.52 percent.
“Since Hawaii is not part of the contiguous U.S., it has a high sales and excise tax burden because most of its products have to be imported from the Mainland,” said Jill Gonzalez, an analyst for WalletHub.
When it comes to individual income tax burden, Hawaii was ranked 14th, at 2.64 percent, and in property tax burden, Hawaii placed 41st, reporting 2.11 percent.
The Aloha State also came in second in overall tax burden, which is influenced by the high excise and income tax burden, Gonzalez said.
More info: https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494/
