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Most & Least Taxing States 2012

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

Photograph by Getty Images

Company Symbol % Change
40 of 53

Rhode Island

Income tax: 5.99%
State sales tax: 7%
Property tax per capita: $1,957
Inheritance tax: None
Estate tax: 0.8% to 16% with an $892,865 exemption

Rhode Island overhauled its income tax in 2010. It decreased the tax rate, from 8.95 percent to 5.99 percent, and eliminated an optional flat-tax rate. When state revenue took a hit, the governor pushed to expand the number of items covered by the sales tax to include such transactions as digital downloads and tours. Now that a so-called "tourism tax" is in place, some lawmakers want to repeal it.