The overall tax system in Kentucky was dubbed “mixed” in a recently released 50-state tax guide published by the Kiplinger business forecasting website.
Nine other states were also placed in this category.
Kiplinger gauged the tax burden in each state based on taxes that would be paid by a married couple with combined incomes of $150,000. Under Kiplinger’s scenario, the couple, who have two children, also receive $10,000 in dividend income and are paying a mortgage on a $400,000 house.
Kentucky has an average sales tax of 6 percent, an income tax of 5 percent, a gas tax per gallon of 26 cents and a median property tax of $925 per $100,000 of assessed tax valuation, according to the analysis.
Kiplinger State-by-State Guide on Taxation
|State||Kiplinger Tax Rating|
|New Hampshire||Most Tax-Friendly|
|New Jersey||Least Tax-Friendly|
|New York||Least Tax-Friendly|
|North Dakota||Most Tax-Friendly|
|Rhode Island||Not Tax-Friendly|
|South Dakota||Most Tax-Friendly|