WalletHub ranks Oklahoma’s tax burden among lowest in U.S.
OKLAHOMA — Being near the bottom of some lists can be a good thing.
WalletHub recently ranked the states with the highest tax burdens, and Oklahoma ranked near the bottom. The state had the 6th ranked lowest tax burden, according to the report.
That’s tax burden, not to be confused with tax rates, which fluctuate widely based on an individual’s particular circumstances. Tax burden measures the exact portion of the total personal income of residents in a state that are paid toward state and local taxes.
To determine which states are most aggressive at taking their residents’ income, WalletHub’s analysts compared the 50 states across the three tax types that comprise state tax burden — property taxes, individual income taxes, and sales and gross receipts taxes — as a percentage of total personal income in the state. Scroll down for the results, expert commentary and a full description of our methodology.
Source: Gov. Mary Fallin