Last week, the Tax Foundation released a paper titled, “Reexamining the Tax Exemption of Municipal Bond Interest,” which argued that lawmakers should consider reforming the current tax treatment of municipal bond...
- Mississippi's State and Local Tax Burden
Mississippi's State and Local Tax Burden
For nearly two decades the Tax Foundation has published an estimate of the combined state-local tax burden shouldered by the residents of each of the 50 states. For each state, we calculate the total amount paid by the residents in taxes, then divide those taxes by the state's total income to compute a "tax burden." We make this calculation not only for the most recent year but also for earlier years because tax and income data are revised periodically by government agencies.
The goal is to focus not on the tax collectors but on the taxpayers. That is, we answer the question: What percentage of their income are the residents of this state paying in state and local taxes? We are not trying to answer the question: How much money have state and local governments collected?
More information on state-local tax burdens: Methodology working paper
|Burden Rate||Income per Capita||Taxes Paid to Own State Per Capita||Taxes Paid to Other States Per Capita||Total Taxes Paid Per Capita|
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