Vermont Business Magazine Once again, a national rating firm has discovered that Vermont has relatively high taxes. Kiplinger’s yesterday released its rankings of the most tax-friendly states and least tax-friendly states—with Vermont placing seventh on the "least" list. Surprisingly, New Hampshire was not among the "most." The rankings were released as part of Kiplinger.com’s newly launched 2015 Tax Map, which compares taxes across all 50 states. In a statement released with the results, Kiplinger’s said that many taxpayers can save thousands of dollars per year just by moving to a different state. Kiplinger’s has released its ranking of the most and least tax-friendly states.
The list was unveiled as part of Kiplinger’s third annual Tax Map—available at Kiplinger.com/links/taxmap—which offers an easy-to-use visual guide that compares income tax, sales tax, gas tax, “sin” tax (for products such as alcohol and tobacco) and other tax types, rules and exemptions across all 50 states.
“Over the next year, millions of Americans will move to a different state—for all sorts of reasons,” said Robert Long, Managing Editor of Kiplinger.com. “From young professionals moving across the country for a new job to working parents moving a state over to find a better home for their family, the Tax Map provides a valuable tool to people of all ages, backgrounds and career stages.”
Kiplinger’s 10 Most Tax-Friendly States:
- Delaware
- Wyoming
- Alaska
- Louisiana
- Alabama
- Mississippi
- Arizona
- New Mexico
- Nevada
- South Carolina
Kiplinger’s 10 Least Tax-Friendly States:
- California
- Connecticut
- New Jersey
- Hawaii
- New York
- Rhode Island
- Vermont
- Maine
- Minnesota
- Illinois
Kiplinger’s Tax Map is a sister project to Kiplinger’s annual Retiree Tax Map—which presents each state’s income taxes on investment income, retirement-plan withdrawals and Social Security benefits, plus a rundown of sales taxes, property taxes and estate and inheritance taxes.
“Many of the states that rank among the most tax-friendly for retirees are also the most tax-friendly across the board,” said Sandra Block, Senior Associate Editor at Kiplinger’s Personal Finance. “The Tax Map and Retiree Tax Map are strong complements to each other—helping people make informed, financially sound decisions when considering moving to a different state.”
The 2015 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 no income tax, states with the highest gas taxes, and states with the lowest beer taxes.
For more information or to request an interview, please contact Jacob Streiter at [email protected] or 646-695-7047.
About Kiplinger
For nine decades, the Kiplinger organization has led the way in personal finance and business forecasting. Founded in 1920 by W.M. Kiplinger, the company developed one of the nation's first successful newsletters in modern times. The Kiplinger Letter, launched in 1923, remains the longest continuously published newsletter in the United States. In 1947, Kiplinger created the nation's first personal finance magazine. Kiplinger.com is the fastest growing Web site in the personal finance space. Located in the heart of our nation's capital, the Kiplinger editors remain dedicated to delivering sound, unbiased advice for your family and your business in clear, concise language. Become a fan of Kiplinger on Facebook or Kiplinger.com and follow Kiplinger on Tumblr, Twitter and LinkedIn.