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Most & Least Taxing States 2013

By Rebecca Helmes of Bloomberg BNA - 2013-04-19T17:41:14Z

Photograph by Bloomberg

Company Symbol % Change
23 of 54

Michigan

Income tax: 4.25% (flat tax)
Sales tax: 6%
Property tax per capita: $1,453

Michigan’s economy has come a long way since the government bailout of the auto industry a few years ago. The state has been gaining thousands of automotive jobs, with more jobs and investments to come. It will see a tax revenue dip this year because of the 2011 Michigan Business Tax repeal, but is expected to rebound in 2014. For 2013, tax breaks for homeownership, renting, having a child and being on unemployment, as well as certain exemptions for seniors, are either reduced or are no longer available. And if Governor Rick Snyder has his way, both gas taxes and license fees will increase to pay for transportation infrastructure.

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