Does Wyoming Pay The Tax Man More Money Than Other States?
We already don't have to pay state taxes, so at least we have that going for us. But, do we pay more in taxes via other means? Does the Tax Man have his hand out over and over again for Wyomingites? Wallethub did a study on how much taxes are in a state-by-state comparison and it's looking like we're in pretty good shape here in the Cowboy State. But, for the most part, we knew that.
Overall, we came in fifth in the country, which is pretty impressive, they counted all 50 states and included DC. Which, I'm sure we all expected a top 10 rating with us not having to pay a state income tax. Colorado came in 9th in case you're wondering. I guess taxes are about the only thing that's not ridiculously priced on the worst side of the border.
While we came in 5th overall, we could have done better if we didn't take a beating on vehicle property taxes and sales & excise tax. My least favorite month is the month that my tags expire every year. Though what we pay for our tags is much less than what we'd pay for state income taxes, so there's that.
On the flip side of that coin, we're the 10th lowest in real estate taxes, which is awesome if you're a homeowner. I mean, not that you're still paying taxes, but real estate taxes can be absurd across the country.
Overall, we should all be happy we're living in a lower tax state. The Tax Man doesn't get as much in his hand when he stops by.