While the legislature argues over whether to eliminate tax credits and rescind tax cuts, a new WalletHub Study ranked Oklahoma 6th lowest nationwide for its overall tax burden.
Oklahoma’s tax burden of 6.95 percent is based by WalletHub’s analysts on property taxes, individual income taxes and sales and gross receipts taxes. Oklahoma is behind South Dakota, New Hampshire, Tennessee, Delaware and Alaska. The lowest tax burden, the one held by Alaska is only 5.18 percent in a state where there is no individual income tax burden and a property tax burden of 3.73 percent.
Ranked highest is New York with a total tax burden of 13.12 percent followed by Hawaii at 11.86 percent. Maine and Vermont are tied for third highest with a total burden of 11.13 percent.
Of surrounding states, Kansas is 14th highest at 9.32 percent. Missouri is 14th lowest at 7.90 percent and Texas is 10th lowest at 7.67 percent.
