How much tax do you pay in a lifetime?

By Editorial Staff for  Accounting Today

The average American will pay $497,804 in total taxes over a lifetime, but the exact amount can be much higher in certain parts of the country. QuickBooks consultants Dancing Numbers recently compared all 50 states and the District of Columbia to determine which states pay the most in taxes, as well as the least.

The total lifetime tax amount of a New Jersey resident ($755,493) is more than double the amount that a resident of Mississippi ($343,885) will pay over a lifetime.

Of the 10 states with the largest lifetime tax totals, seven are in the Northeast, while eight of the 10 states with the smallest lifetime tax total are in the southern part of the United States.

Read more about how much the average American will pay in taxes over a lifetime.

Source: Dancing Numbers

States paying the least total lifetime tax

RankState

Total

lifetime

tax

Lifetime

total

income

tax

Lifetime

total

property

tax

Lifetime

total

expenditure

tax

Lifetime

total

car tax

42Florida

$408,164

$248,535

$104,448

$48,300

$6,882

43Arkansas

$404,791

$292,005

$40,350

$64,980

$7,456

44Louisiana

$401,250

$283,905

$46,545

$65,696

$5,104

45Delaware

$395,216

$327,690

$67,526

$0

$0

46Wyoming

$391,531

$283,050

$66,452

$37,441

$4,588

47Tennessee

$391,245

$260,685

$56,829

$65,703

$8,029

48South Carolina

$382,668

$276,390

$48,941

$51,603

$5,737

49New Mexico

$374,157

$249,615

$67,649

$52,305

$4,588

50West Virginia

$372,937

$286,965

$33,907

$45,183

$6,882

51Mississippi

$343,885

$241,605

$47,949

$48,596

$5,735

States paying the most total lifetime tax

RankState

Total

lifetime

tax

Lifetime

total

income

tax

Lifetime

total

property

tax

Lifetime

total

expenditure

tax

Lifetime

total

car tax

10

Maryland

$594,580

$153,270

$155,990

$41,288

$6,882

9

California

$597,377

$142,065

 

$199,520

$60,906

$8,316

8

New Hampshire

$605,992

$178,695

$256,432

$0

$0

7

Vermont

$611,358

$159,120

$197,703

$43,758

$6,882

6

Rhode Island

$613,137

$155,430

$195,184

$48,169

$8,029

5

Illinois

$644,778

$139,140

$202,866

$60,817

$8,316

4

New York

$674,663

$136,215

$255,234

$58,711

$4,588

3

Massachusetts

$679,404

$400,590

$228,637

$43,008

$7,169

2

Connecticut

$686,655

$380,070

$255,606

$43,696

$7,283

1

New Jersey

$755,493

$335,025

$367,446

$45,423

$7,599

_______________

Source: Accounting Today

Image by freepik

 

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