Think Tank Ranks States for Tax-Friendliness to Wealthy, Ohio in Middle
February 10, 2020 4:22AM EST
WASHINGTON, DC (News Talk 1480 WHBC) – A Washington-based think tank says Ohio ranks in the middle as far as tax friendliness to the wealthy goes.
Figuring just state and local taxes, the Institute on Taxation and Economic Policy says the top 1-percent pay a 6.5-percent effective tax rate.
Compare that to 12.4-percent in California and about 2-percent in Nevada.
The study shows the lower your income, the higher percentage paid out in taxes.