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This is a list of U.S. states, territories, and Washington, D.C. by income.Data is given according to the 2023 American Community Survey (ACS) 1-Year Estimates, except for the American Samoa, Guam, the Northern Mariana Islands and the U.S. Virgin Islands, for which the data comes from 2010, as ACS does not operate in these areas.
Median household income and taxes State Tax Burdens 2022 % of income. State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
The Fisc states that the federal deficit increased due to human resource expenditures, increased tax cuts, and increased military expenditure during the 1980s. The Fisc further reports that in expectations and defense spending declined in the 1990s one would expect the expenditure per state to decrease along with the government.
How does your state measure up?
The Tax Foundation has released its annual State Tax Competitiveness Index, which compares each state on more than 150 variables in five areas of taxation: corporate taxes, individual income taxes ...
Virginia was No. 1 on WalletHub’s list of the U.S. states with the highest income earners. According to the study, the average annual income of the top 5% earners in Virginia was $518,296.
The Bureau of Economic Analysis has calculated that the regional price parity of U.S. states ranges from 84.4 in Mississippi (the cheapest state in which to live) to Hawaii at 119.3 (the most expensive state). In other words, an income of $0.84 in Mississippi equals an income of $1.19 in Hawaii with the U.S as a whole having an average PCPI of ...
Another state with a Republican trifecta in the statehouse and governor's office, Louisiana is cutting its individual income tax rate to a flat rate of 3% starting Jan. 1, down from a graduated ...