State tax rankings

The Tax Foundation has released their 2013 rankings for comparing states by their tax burdens. Read the entire report here –

Here are some highlights.

Tax Freedom Day.

Tax Freedom Day represents how long Americans must work
into the year before they have earned enough money to pay all
federal, state, and local taxes for the year.

Ranked best was Tennessee followed by Louisiana and Mississippi. Worst was Conneticut followed by New Jersey.

The state business tax climate rankings.

Best was Wyoming followed by South Dakota. Worst was New York followed by New Jersey.

The report is chock full of information useful for making comparisons, particularly if one is considering relocating. Just breezing through it makes a flat tax look fantastic.