It’s the most (non) wonderful time of the year – tax season!
With state and federal filings being submitted by the thousands daily, it’s a good time to check out which states make the most – and least – amount of money off their residents.
Conventional wisdom says Florida, with its lack of a state income tax, spends this time of the year laughing at the rest of us as we watch our dollars fly away. There’s some truth in that -- Florida collects the third lowest amount of revenue per-capita in the country at $3,974. Their neighbor to the north, Georgia, collects the least amount of money per person at $3,807. Nevada fills in the number two slot at $3,848.
Arizona ($4,195) and Texas ($4,209) round out the list of the top five states who let residents keep the most of what they earn.
So, which states are collecting the fattest checks from residents?
Number one on the list is our friends way up to the north -- Alaska. Alaska collects a whopping $17,630 per person. This number is almost $7,000 higher than number two on the list, which happens to be Wyoming ($10,694). North Dakota ($9,838), Vermont ($8,988), and Delaware ($8,091) follow suit as the states collecting the most money per-capita from residents.
The data is based on 2011 State Revenue figures from the U.S. Census Bureau. State revenue doesn’t just mean taxes. The figures here are comprised of taxes, fees, licenses, and intergovernmental revenue in each state. It excludes revenue made from government enterprises like liquor stores and utility companies.
Curious to see where your state ranks? Check out the full list, courtesy of Taxfoundation.org: