"The hardest thing in the world to understand is the income tax."

Albert Einstein  (1879 - 1955)

 

“In this world, nothing can be said to be certain, except death and taxes.”

Benjamin Franklin, in a letter to Jean-Baptiste Leroy, 1789

If the IRS has got what it takes to take what you’ve got, It then comes down to how much they can get from you. As Tax day, April 17th approaches, it may ease the pain to know Wyoming is the 5th best state for low tax rates.

WalletHub’s 2018 Taxpayer Survey and Tax Rates by State compares the cost of the average person’s obligations in all 50 states. Oddly, they found that states with no income tax aren’t always the cheapest overall, because they usually have higher sales and property taxes.

Tax Rates in Wyoming (1=Lowest; 25=Avg.):

  • 5th– Overall Effective State & Local Tax Rate
  • 1st– Income Tax
  • 9th– Real-Estate Tax
  • 41st– Vehicle Property Tax
  • 34th– Sales & Excise Taxes