Tax Burden by State [Post 39]

Illinois residents part with 9.7% of their personal income to cover property, income, and sales/excise taxes, placing the state among the nation’s highest tax burdened locations. Graphic provided by Visual Capitalist with data from WalletHub.1

Meanwhile, states like Florida and Tennessee shine with some of the lowest tax rates in the country, making them appealing destinations for the tax conscious.

In 2022, many Illinois residents packed up and moved south, with the #1 destination being Florida, according to Stacker.2 Aside from the sunshine and sandy beaches, these movers likely found the tax savings as a sweet bonus.

Works Cited

1.       Lu, Marcus. “Visualizing the Tax Burden of Every U.S. State.” Visual Capitalist, 8 May 2024, www.visualcapitalist.com/visualizing-the-tax-burden-of-every-u-s-state/#google_vignette.

2.       Unknown. “Where People in Illinois Are Moving to Most.” Stacker, 2024, stacker.com/illinois/where-people-illinois-are-moving-most.