The Senate Site: Tax Burdens

The Tax Foundation released a special report about the State-Local Tax burdens facing Americans (Hat tip to Senator Greg Bell for bringing this to our attention). The report ranks all 50 states (51, in some sections, to include Washington DC) according to their "tax burden". Basically, for each state, they calculate the total amount paid by the residents in taxes, and divide those taxes by the total income in each state to compute this "tax burden" measure (in other words, the amount taxpayers are paying).

Some key points about Utah:

The National Average for State-Local Tax Burdens (FY2008) is 9.7% of individual income. Utah is paying 9.6% - Which puts us at the 22nd highest.
Utah had one of the largest drops in taxpayers' burden in the country (dropping 0.5 percentage points between 2007 and 2008), mostly due to income growth outpacing tax growth while the economy, as a whole, slowed.
In 2000, Utah was ranked the 8th highest in taxpayer's burden. As mentioned before, we are now 22nd, which is one of the biggest drops in the nation.

To read more into this in-depth study, click here.

1 Comments:

Catmando said...: This report does not provide a true view of the financial burden of government on tax-payers because there is no mention of fees charged to developers, citizens, business, etc. All of those fees get passed on to someone.; 8/30/2008 3:29 AM