Most & Least Taxing States 2012

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

Photograph by Getty Images

Company Symbol % Change
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Income tax: 5.925%
State sales tax: 5.5%
Property tax per capita: $1,178
Inheritance tax: None
Estate tax: 6% to 7% with a $338,333 exemption

Looking to capitalize on natural gas liquids situated below shale formations in the state, Ohio Governor John Kasich proposed a plan to use the nearly $1 billion the state expects from gas taxes to pay for a personal income tax cut. Ohio will soon be more attractive to retirees who want to pass money to heirs; repeal of the state estate tax takes effect in 2013. The state is offering amnesty to taxpayers who pay delinquent tax debts between May 1 and June 15. Penalties and 50 percent of interest will be waived on debts paid.