Connect with us

Hi, what are you looking for?

Advertisements
DailyflyDailyfly

Idaho State News

Idaho Tax Commission releases annual tax burden study

BOISE, Idaho — March 27, 2024  The Idaho State Tax Commission has published the latest tax burden comparative of Idaho and the United States. The study compares Idaho’s state and local taxes with those of other states and the District of Columbia. Jacob Besser, the Tax Commission’s principal research analyst, conducted the annual study based on data from fiscal year (FY) 2021, the latest year for which U.S. Census Bureau figures are available.

“Idaho’s tax structure is typified by moderate to low overall taxes,” said Besser. “It’s a proportional tax system with a broad structure and good balance between tax types.”

Idaho ranks 35th in overall state and local tax burden nationally when measured by the percentage of income that goes to pay taxes. It ranks 43rd when comparing taxes paid per person. (A ranking of 51 shows the lowest tax burden.)

Idaho also has the second lowest tax burden among 13 western states when measured by the percentage of income that goes to pay for taxes.

Here are a few highlights of changes to the study:

  1. Added a glossary of definitions.
  2. Updated the visuals, tables, and their narratives.
  3. Western regional analysis now includes Alaska and Hawaii.

You can find the Comparative Tax Potential 2021: A State and local Tax Burden Comparative of Idaho and the United States on the Tax Commission’s website at tax.idaho.gov through the Reports and Statistics link on the home page.

Advertisements
Advertisements
Advertisements