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Most & Least Taxing States 2012

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

Photograph by Getty Images

Company Symbol % Change
37 of 53

Oklahoma

Income tax: 5.5%
State sales tax: 4.5%
Property tax per capita: $582
Inheritance tax: None
Estate tax: None

Oklahoma's economy grew enough to trigger a decrease in income tax: The top rate was lowered from 5.5 percent to 5.25 percent for 2012. A 15 percent increase in revenues from 2011 may pave the way for a further cut in the state's rate to 4.75 percent over two years. Oklahoma is one of seven states that tax groceries at the full sales tax rate, according to Bloomberg BNA. Its combined state and local sales tax rate of 8.66 percent ranks it fifth among states.

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