Thanks to our friends at the Office of Legislative Research for spotting this one: Forbes has compiled three top ten lists of the worst tax states for the rich, as measured by annual incomes of $250,000, $500,000 and $1 million.
Connecticut’s not on any of the lists.
The chart done by OLR shows the effective tax rate, top tax rate and top rate threshold:
$250,000
1 Oregon 7.61% 11% $500,000
2 Hawaii 6.98% 11% Over $400,000
3 Maine 6.86% 8.5% $39,900
4 D.C. 6.68% 8.5% Over $40,000
5 North Carolina 6.47% 7.75% Over $100,000
6 New York 6.36% 8.97% Over $500,00
7 Idaho 6.32% 7.8% $52,640
8 California 6.3% 10.3% $1 million
9 Minnesota 6.0% 7.85% $134,171
10 West Virginia 5.84% 6.5% Over $100,000
$500,000
1 Oregon 8.06% 11% $500,000
2 Hawaii 8.06% 11% Over $400,000
3 California 7.78% 10.3% $1 million
4 D.C. 7.46% 8.5% Over $40,000
5 New York 7.42% 8.97% Over $500,00
6 Maine 7.34% 8.5% $39,900
7 Minnesota 6.96% 7.85% $134,171
8 North Carolina 6.80% 7.75% Over $100,000
9 Idaho 6.75% 7.8% $52,640
10 Wisconsin 6.43% 7.75% $298,941
$1,000,000
1 Oregon 9.98% 11% $500,000
2 Hawaii 9.66% 11% Over $400,000
3 New York 8.75% 8.97% Over $500,00
4 California 8.75% 10.3% $1 million
5 D.C. 8.16% 8.5% Over $40,000
6 Maine 7.89% 8.5% $39,900
7 Minnesota 7.53% 7.85% $134,171
8 North Carolina 7.24% 7.75% Over $100,000
9 Idaho 7.24% 7.8% $52,640
10 New Jersey 7.19% 11% $500,000