South Dakota has the nation’s 7th Lowest Tax Burden

News Staff
April 2, 2024
Business

Last Updated 8 months ago

UNDATED – With Tax Day approaching on April 15 and 72% of Americans thinking their current tax rate is too high, the personal-finance website WalletHub today released its 2024 Tax Burden by State report and its 2024 Tax Facts infographic, as well as expert commentary.

In order to determine which states tax their residents most aggressively, WalletHub compared the 50 states based on the three components of state tax burden — property taxes, individual income taxes, and sales and excise taxes — as a share of total personal income.

Tax Burden in South Dakota (1=Highest, 25=Avg.):

44^th – Overall Tax Burden (6.44%)
31^st – Property Tax Burden (2.58%)
44^th – Individual Income Tax Burden (0.00%)
11^th – Total Sales & Excise Tax Burden (3.86%)

For the full report, please visit:
https://wallethub.com/edu/states-with-highest-lowest-tax-burden/20494

People are also reading...

BBB South Dakota says watch for holiday scams

November 21, 2024
Business

MITCHELL, S.D. – The annual race for the best bargains in holiday shopping is underway as American consumers are expected to spend billions of dollars. On-line deals are everywhere as […]

file photo

Target struggles in the third quarter and tempered expectations for the holidays

November 20, 2024
Business

NEW YORK (AP) — Target etched out a slim sales increase in the third quarter but profits slumped as inflation-weary customers pulled back on spending. Costs related to a dockworker […]