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Report: SC is 5th Best State to be Rich or Poor (from a Tax Perspective)

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Personal finance website WalletHub yesterday released its report on 2019’s Best States to Be Rich or Poor from a Tax Perspective and South Carolina was ranked as the 5th best.

In order to identify the states where people in different income brackets spend the most and least on taxes, WalletHub calculated the share of one’s income that he or she contributes toward sales and excise taxes, property taxes and income taxes.

Tax Burden in South Carolina (1=Best, 25 =Avg.):

  • 5th – Low Income Earners (7.99% of Income)
  • 13th – Middle Income Earners (8.43% of Income)
  • 20th – High Income Earners (7.94% of Income)

To see the full report, click here.

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