Special Report
The Most Tax-Friendly States for the Rich
January 24, 2020 4:55 pm
Last Updated: February 17, 2020 8:44 am
35. West Virginia
> Effective tax rate for top 1% of earners: 7.4%
> Effective tax rate for middle 20% of earners: 8.5% (14th lowest)
> Avg. income for top 1%: $702,400 (the lowest)
> State & local tax revenue from sales taxes: 18.4% (16th lowest)
> State & local tax revenue from income taxes: 25.8% (18th highest)
See all stories featuring: West Virginia
Source: sframephoto / Getty Images
34. Kansas
> Effective tax rate for top 1% of earners: 7.4%
> Effective tax rate for middle 20% of earners: 10.6% (15th highest)
> Avg. income for top 1%: $1.29 million (22nd highest)
> State & local tax revenue from sales taxes: 32.1% (13th highest)
> State & local tax revenue from income taxes: 17.1% (14th lowest)
See all stories featuring: Kansas
24/7 Wall St.
Source: mattalberts / Getty Images
33. Idaho
> Effective tax rate for top 1% of earners: 7.2%
> Effective tax rate for middle 20% of earners: 8.1% (7th lowest)
> Avg. income for top 1%: $1.04 million (13th lowest)
> State & local tax revenue from sales taxes: 26.5% (20th highest)
> State & local tax revenue from income taxes: 25.8% (19th highest)
See all stories featuring: Idaho
Source: Sean Pavone / Getty Images
32. Georgia
> Effective tax rate for top 1% of earners: 7.0%
> Effective tax rate for middle 20% of earners: 9.8% (22nd highest)
> Avg. income for top 1%: $1.16 million (25th lowest)
> State & local tax revenue from sales taxes: 24.1% (25th highest)
> State & local tax revenue from income taxes: 27.7% (14th highest)
See all stories featuring: Georgia
Source: SeanPavonePhoto / Getty Images
31. Virginia
> Effective tax rate for top 1% of earners: 7.0%
> Effective tax rate for middle 20% of earners: 9.2% (20th lowest)
> Avg. income for top 1%: $1.42 million (17th highest)
> State & local tax revenue from sales taxes: 13.8% (8th lowest)
> State & local tax revenue from income taxes: 31.9% (8th highest)
See all stories featuring: Virginia
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Editors' Picks
