New Jersey has highest U.S. tax burden
A new survey shows New Jersey residents carry the highest tax burden in the country.
The nonprofit, nonpartisan think tank Truth in Accounting Monday released a survey that shows New Jersey taxpayers carry a burden of $52,300.
That’s above the next closest states of Connecticut, Illinois, Kentucky and Massachusetts. Neighboring New York comes is eighth in the survey while Pennsylvania has the 11th highest burden.
The figure represents the amount of money needed for the state to meet its obligations divided by the number of taxpayers in New Jersey. Truth in Accounting determined how much money is needed by subtracting the state’s bills from its available assets.
The study did not factor in local property tax burdens, which frequently are among the highest in the country.
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