Special Report

The Most Tax-Friendly States for the Rich

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50. California
> Effective tax rate for top 1% of earners: 12.4%
> Effective tax rate for middle 20% of earners: 8.3% (11th lowest)
> Avg. income for top 1%: $2.16 million (5th highest)
> State & local tax revenue from sales taxes: 21.9% (21st lowest)
> State & local tax revenue from income taxes: 33.8% (3rd highest)

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49. New York
> Effective tax rate for top 1% of earners: 11.3%
> Effective tax rate for middle 20% of earners: 12.4% (2nd highest)
> Avg. income for top 1%: $2.49 million (3rd highest)
> State & local tax revenue from sales taxes: 16.7% (13th lowest)
> State & local tax revenue from income taxes: 32.7% (5th highest)

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48. Vermont
> Effective tax rate for top 1% of earners: 10.4%
> Effective tax rate for middle 20% of earners: 10.1% (20th highest)
> Avg. income for top 1%: $993,600 (10th lowest)
> State & local tax revenue from sales taxes: 10.4% (6th lowest)
> State & local tax revenue from income taxes: 19.8% (17th lowest)

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47. Minnesota
> Effective tax rate for top 1% of earners: 10.1%
> Effective tax rate for middle 20% of earners: 9.7% (23rd highest)
> Avg. income for top 1%: $1.45 million (15th highest)
> State & local tax revenue from sales taxes: 17.1% (14th lowest)
> State & local tax revenue from income taxes: 31.9% (7th highest)

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46. New Jersey
> Effective tax rate for top 1% of earners: 9.8%
> Effective tax rate for middle 20% of earners: 10.1% (19th highest)
> Avg. income for top 1%: $1.86 million (7th highest)
> State & local tax revenue from sales taxes: 15.4% (11th lowest)
> State & local tax revenue from income taxes: 22.2% (20th lowest)

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