See Where CT is Ranked in the Nation’s Tax BurdenMarch 14, 2017
The Tax Foundation confirmed what many Connecticut residents already know: our tax burden is among the highest in the entire country.
The Tax Foundation released its annual review of tax burdens in each of the 50 U.S. states, and Washington, D.C., this week. Here’s a look at where our state stands on some key Tax Foundation metrics:
- Connecticut is ranked last in “Tax Freedom Day” rankings. This is the date that “represents how long into the year Americans work before they have earned enough money to pay all federal, state, and local taxes for the year.” Connecticut is #50 of 50 states, and one of only four states whose “Tax Freedom Day” is in May and not April.
- Connecticut has the second-highest state-local tax burden, as a percentage of income (12.6%, a tax burden of $7,869 per person).
- Connecticut’s state business tax climate is in the bottom 10, at #43 of 50.
- Connecticut has the highest individual income tax collections per person, at $2,279 per person. Remember when legislators promised Connecticut’s income tax would end?
- Connecticut’s gas taxes, at 39.85 cents per gallon, are ranked sixth in the nation.
- Connecticut’s state and local property tax collections per person are third in the nation, at $2,774 per person.
Despite all of this, Tax Foundation points out that Connecticut state debt per person is second in the nation, at $9,244 per person. Only Massachusett’s state debt per person ($10,989 per person) is more.
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