In news sure to elicit a hearty Bronx cheer from every New Yorker, a research group just released a report showing that the state is at or near the top in almost every category of taxation.
In its annual report, “Facts & Figures: How Does Your State Compare,” The Tax Foundation ranks the 50 states on how high their taxes were and how much they collected per resident in fiscal year 2010. New York, unfortunately, did very well on this dubious list.
Some of the categories where New York tops the national list:
State and local tax burden as a percentage of income: 12.8 percent
Individual income tax collections per capita: $1,864
State and local individual income tax collections per capita: $2,196
Gasoline tax rate: 50.6 cents per gallon
Cigarette taxes (per 20-pack carton): $4.35
State and local debt per capita: $16,364
New York came close to the top in many other categories:
The share of total tax collections that comes from individual income taxes: 31.2 percent. That’s second only to Maryland where the figure is 35.6 percent.
Tax burden per capita: ranked third at $6,375. Only New Jersey and Connecticut were higher.
State and local corporate income tax collections per capita: ranked second at $469.
State and local cellphone tax rates: ranked third at 17.85 percent.
State and local property tax collections per capita: ranked fifth at $2,280. New Jersey is first with $2,819; Connecticut is third with $2,522.
The report also revealed that compared to other states New York has relatively low taxes on alcohol and the state also ranks last in business tax climate, or how tax laws affect the economy.
If you’re a masochist and want to read the full report, you can view it below.
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