A June study from WalletHub found that said that North Carolina has the 33rd highest state-imposed tax burden. | Stock Photo
A June study from WalletHub found that said that North Carolina has the 33rd highest state-imposed tax burden. | Stock Photo
A new study by WalletHub ranks North Carolina as having the 33rd highest state-imposed tax burden.
The study evaluated three key tax measurements, property taxes, state income taxes, and sales and excise taxes, The Center Square reported on July 11.
Wallethub researchers found that North Carolinians spent 2.2% of their personal income on property taxes. Another 2.66% was dedicated to state income taxes, and residents spent 3.31% in sales and excise taxes according to the study. In total, 8.17% of North Carolina residents' personal income went toward state-imposed taxes.
New York residents had the highest state-imposed tax burden at 12.28%, paying 4.44% of their personal income in property taxes and 4.40% of their income on state income taxes. Alaska residents had the lowest state-imposed tax burden at 5.16%, spending 3.71% on property taxes and just 1.45% on sales and excise taxes.
State tax burdens were examined in a year where federal taxes didn't have to be filed until July 15 because of the COVID-19 pandemic.
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