Most & Least Taxing States 2012

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

Photograph by J.G. Domke/Bloomberg

Company Symbol % Change
44 of 53

Texas

Income tax: None

State sales tax: 6.25%
Property tax per capita: $1,393
Inheritance tax: None
Estate tax: None

Texas can afford not to levy income tax on individuals or corporations, partly because it earns so much revenue from its severance tax on natural resources taken from the ground. Oil and gas drilling contributed $1.7 billion in 2010 (the most recent data available).

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