In August I wrote about Tennessee’s version of the “jock tax,” which requires NBA and NHL players to pay $2,500 per game played in the state, up to a maximum of $7,500 per year. Now Bloomberg has taken notice of the tax...
The facts on Alaska’s Tax Climate
0%individual income taxNone
9.4%corporate income taxTop rate
0%sales taxlocal only
$1865property taxcollections per capita
Alaska's Individual Income Tax System
Alaska levies no individual income tax, joining seven other states with the same policy: Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming.
50-State Table of Individual Income Tax Rates
50-State Table of State Individual Income Tax Collections
50-State Table of State and Local Individual Income Tax Collections Per Capita
Alaska's Corporate Income Tax System
Alaska's corporate income tax system consists of ten brackets and a top rate of 9.4%. That rate ranks 5th highest among states levying an corporate income tax. Alaska's corporate tax collections per person were $910 in 2010 which ranked highest nationally.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita
Alaska Sales and Excise Taxes
Alaska levies a 0% general sales or use tax on consumers, which is below the national median of 6%. The average local sales tax rate is an additional 1.69%. Alaska's state and local governments collect $484 per person in general sales taxes and $471 per person in excise taxes, for a combined figure of $955, which ranks 5th lowest nationally. Alaska's gasoline tax stands at 8¢ (lowest nationally), while its cigarette tax stands at $2 (10th highest nationally.)
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita
Alaska Property Tax Collections Relatively High
Alaska's state and local governments collected approximately $1865 per person in property taxes, which ranks 9th highest nationally.
State and local property tax collections per capita by state
Tax Freedom Day Arrives on April 6th in Alaska
Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2013, Alaska taxpayers worked until April 6th (11th earliest nationally) to pay their total tax bill. The Tax Freedom Days of neighboring states are: Hawaii, April 14th (ranked 24th latest nationally); Oregon, April 15th (ranked 18th latest nationally); Washington, April 20th (ranked 9th latest nationally); and California, April 24th (ranked 6th latest nationally).
Alaska's State and Local Tax Burden Lowest in Nation
Alaska's 2010 tax burden of 6.97% ranks lowest out of 50 states, and is below the national average of 9.9%. Alaska's taxpayers pay $3214 per capita in state and local taxes.
Alaska's State-Local Tax Burden, 1977-Present
Other States' State/Local Tax Burdens
Map of U.S. Showing all State's Burdens and Ranks
Historical Chart Comparing All States' State/Local Tax Burdens from 1977 to 2009
Alaska's 2014 Business Tax Climate Index Ranks 4
Alaska ranks 4th in the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, and taxes on property, including residential and commercial property. The ranks of neighboring states are as follows: Hawaii, 30th, Oregon, 12th, Washington, 6th, and California, 48th.
50-State Comparison of Business Tax Climates (data only) (2013)
2014 State Business Tax Climate Index (full study)
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