Personal Finance (Not Investing) • No-state-income-tax states are not good for retirees.

Despite all of this, CA residents still pay the third highest taxes per capita in the country. Here's the rundown:

For FY 2021, the District of Columbia surpassed all states with $13,278 in per capita tax collections. New York followed at $10,266 in state and local tax collections per person, with Connecticut ($9,458), California ($9,175), New Jersey ($8,303), and Massachusetts ($8,101) not far behind. At the other end of the spectrum, Alaska was lowest at $4,192, followed by Alabama ($4,245), Tennessee ($4,272), Florida ($4,405), and Mississippi ($4,435).

Here's the rest of the rundown using your numbers:

Florida per capita tax $4,405
Florida median household income $68,000

California per capita tax $9,175
California median household income $92,000

Take your pick. It's not as simple as some make it out to be.

(Per capita tax is kind of a weird metric since it combines personal taxes and business taxes. There are a lot of very big companies in California like Apple, Google, Meta and NVIDIA paying a big portion of the per capita tax).

Statistics: Posted by billaster — Sun Jan 21, 2024 11:27 pm — Replies 296 — Views 21265

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