Most & Least Taxing States 2012

By Bloomberg BNA - 2012-04-13T16:45:59Z

Photograph by Getty Images

Company Symbol % Change
11 of 53

Georgia

Income tax: 6%
State sales tax: 4%
Property tax per capita: $1,063
Inheritance tax: None
Estate tax: None

Income tax on retirement income will start being phased out in 2012 and come to an end in 2016. Retirees can celebrate and contribute to state revenue by quaffing beer: Georgia's excise taxes on malted beverages are among the nation's top three, according to the Beer Institute and the Tax Foundation. Residents will pay more at the pump if the price of oil continues to rise. Georgia is one of the few states that impose tax based on a percentage of the gas purchase rather than a fixed amount based on the number of gallons, according to the Institute on Taxation and Economic Policy.

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