SHARE

New York Ranks As Worst State To Be Rich

WESTCHESTER COUNTY, N.Y. -- New York is ranked the worst state for taxes for those that are deemed high income, according to WalletHub. 

New York was rated the worst state for taxes for people who earn $150,000 a year or more.

New York was rated the worst state for taxes for people who earn $150,000 a year or more.

Photo Credit: Flickr user 401(K) 2013

The site  generated estimates of the state-specific tax burden on residents at three income levels — low ($25,000), medium ($50,000) and high ($150,000) — in each of the 50 U.S. states and the District of Columbia.

The Empire State struggled mightily in all tax brackets, ranking 43rd out of 51 for low income, and 51st for middle and high. Middle and high-income earners in New York had a tax burden of more than 12 percent of their annual income, WalletHub said. 

Neighboring Connecticut fared only slightly better, ranking 34th for low income, 46th for middle income and 50th for high income-earners. 

The best state for taxes was Alaska, which ranked first in all three categories. 

Click here to read the full report.

to follow Daily Voice Port Chester and receive free news updates.

SCROLL TO NEXT ARTICLE