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Most & Least Taxing States 2012

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

Photograph by Daniel Acker/Bloomberg

Company Symbol % Change
8 of 53

Connecticut

Income tax: 6.7%
State sales tax: 6.35%
Property tax per capita: $2,381
Inheritance tax: None
Estate tax: 7.2% to 16% with a $2 million exemption

With gas taxes at almost 50 cents per gallon at the pump, there's bipartisan support among lawmakers to cap and cut the state's gross receipts tax on oil. High taxes are paired with the nation's highest income per capita -- $56,889 per person in 2011, according to the Bureau of Economic Analysis. The state is one of 13 that tax Social Security income; a full exemption applies to income for single filers with annual income less than $50,000 or joint filers with annual income below $60,000, according to Bloomberg BNA. Connecticut is pursuing sales taxes on online purchases.

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