Study: CT Has #2 Tax Burden in U.S.February 22, 2018
At least we're not #1 ... we guess? Is that any consolation?
A recent study from 24/7 Wall Street found – surprise! – Connecticut has the second-highest tax burden in the country.
Here’s their breakdown:
- Taxes paid as pct. of income: 12.6%
- Income per capita: $69,311 (the highest)
- Income tax collections per capita: $2,279 (the highest)
- Property tax collections per capita: $2,774 (3rd highest)
- General sales tax collections per capita: $1,137 (8th highest)
The only state that has a higher tax burden? Our neighbor to the west, New York.
Connecticut may give New York a run for its money in 2018, though – or, rather, a run for your money – with the following proposals from Gov. Dan Malloy (D-Conn.) and legislative Democrats:
- Malloy’s ‘Taxes & Tolls’ Plan an Effective Tax Hike of $4B-$5B Over 10 Years
- Malloy Budget: $70M in Higher Spending, $215M in Higher Taxes, Fees
- But Wait, There’s More: CT Dems Pitch Carbon Tax … Again
- CT Leaders Pan Malloy’s Budget Proposal; “Irresponsible,” Could Force Local Tax Hikes
Keep up with Reclaim Connecticut for tax updates in 2018 and beyond.
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