Most & Least Taxing States 2012

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

Photograph by Getty Images

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North Dakota

Income tax: 3.99%
State sales tax: 5%
Property tax per capita: $1,157
Inheritance tax: None
Estate tax: None

Buoyed by its oil boom, North Dakota cut both its corporate and individual income tax rates last year after projecting a $1 billion budget surplus. The top rate was lowered to 3.99 percent from 4.86 percent, beginning in the 2011 tax year, according to Bloomberg BNA. The state collects the nation's third-highest amount of severance tax (a tax on natural resources taken out of the ground): $1.14 billion in 2010, according to Census data. Those who want to retire in the Roughrider State will pay tax on Social Security income.

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