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Most & Least Taxing States 2012

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

Photograph by Getty Images

Company Symbol % Change
20 of 53


Income tax: 8.5%
State sales tax: 5%
Property tax per capita: $1,636
Inheritance tax: Estate taxes range from 0.8% to 16%
Estate tax: 0.8% to 16% with a $1 million exemption ($2 million for 2013 and after)

Maine will lower its top income tax rate to 7.95 percent beginning in 2013. The state collects a high amount of property tax per person, in part because of the high number of second homes owned by residents of other states who come for Maine's seashore, lobster and blueberries. Maine imposes its 5 percent state sales tax on medical marijuana. A 7 percent tax rate on prepared food applies if the herb is baked into brownies.