Worst states for taxes in 2019 (Video)

For upper middle income earners, high net-worth individuals, retirees, and certainly the “one percent” – where you live can produce a huge difference in how much of your money you’re able to keep at the end of the entire year and how much you need to fork over to a state.

To help individuals and businesses make an informed choice, the Tax Foundation collects data on more than 100 tax provisions for each state after which ranks them to create its annual State Business Tax Climate Index. The ten worst states on the list all levy complex, non-neutral taxes that favor some economic activities over others and have comparatively high individual and corporate tax rates.

The data are mixed whether a difficult tax climate actually does push people and businesses to live in low-tax states. A report released this past year through the Institute on Taxation and Economic Policy discovered that residents of states rich in tax were actually experiencing economic conditions that were just like or much better than those living in states without a personal income tax.

Plus, sometimes individuals are inclined to pay for higher taxes to live in a particular location. Ny, California and Maryland, for example, are all one of the states that ranked worst for taxes, but they’re also hives of economic activity, high salaries and employment. Meanwhile, families with children have historically been willing to pay higher property taxes in exchange for higher quality schools and other services.