Illinois residents likely find tax time to be a bit more stressful than those in other, more tax-friendly states around the country. | Shutterstock
Illinois residents likely find tax time to be a bit more stressful than those in other, more tax-friendly states around the country. | Shutterstock
Illinois taxpayers who have had an inkling that their taxes are a bit higher than that of their counterparts in other states would be right, according to a recent study. The study, entitled States with the Highest & Lowest Tax Rates, has been conducted by WalletHub.
The study found that taxpayers in Illinois were paying the highest total state and local taxes for a median household at 15.1%. Connecticut came in second with 14.84% and Alaska had the lowest, arriving at a measly 5.84%.
According to WalletHub, just because a state has lower income taxes, it does not necessarily mean that the state will have a low total tax rate. Considering the figures that have been compiled, it has been concluded that Illinois has a tax rate that is 38.95% higher than the national average.
These high rates of taxation probably have to do with the fact that Illinois has been in financial trouble for much of the last decade.
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