3/23/2005
Taxachusetts
Craig mentions this today, and I've brought it up before.
People derisively refer to a state in which I lived for almost half my life as "Taxachusetts". Would that New York could be so taxing.
Sales Tax:
Massachusetts: 5%
New York: 4.25% + county sales tax (in Erie Co., 4%)
Property Tax:
Erie County, NY: approx. $20/$1,000 assessed value
Boston, MA: approx. $11/$1,000 assessed value
Income Tax:
New York: 6.85% for earning over $20k (7.375% if over $100k; 7.7% if over $500k)
Massachusetts: 5.3% flat tax
According to the National Tax Foundation, Massachusetts reached tax freedom day on April 18th, (the national average is April 11th), and its local/state tax burden is just under the national average.
New York is the second-to-last state to reach tax freedom day; on April 27th, and its local/state tax burden is the highest in the nation. New York ranks 49th in business climate friendliness. Anyone who earns over $20,000 pays the highest income tax rate of 6.85%.
The upstate blog notes that Massachusetts (no red-state backwater, that) has got its head screwed on straighter than New York even when it comes to Medicaid.
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