(Washington, D.C.) — Kiplinger has released its ranking of the best and worst states for taxes. Kiplinger’s fourth annual Tax Map — reveals income taxes, sales taxes, gas taxes, “sin” taxes (for products such as alcohol and tobacco) and other tax rules and exemptions across all 50 states and Washington, D.C.
“Where you live can have a dramatic impact on your wallet and savings. The Tax Map is an extremely valuable resource—especially for those considering a move to a different state,” said Sandra Block, senior associate editor at Kiplinger’s Personal Finance. “It’s worth pointing out, though, that there are tradeoffs to living in a state with lower taxes—since there are likely less funds going to roads, bridges, schools and various other public services we may otherwise take for granted.”
The 10 Most Tax-Friendly States:
7. South Carolina
8. South Dakota
The 10 Least Tax-Friendly States:
4. New York
5. New Jersey
10. Rhode Island
The 2016 Kiplinger Tax Map features comprehensive tax profiles of each state, a list of the 10 most tax-friendly states and a list of the 10 least tax-friendly states, as well as additional roundups including states with the highest and lowest gas taxes, no income taxes and more.