April 15 Tax Day: CT residents are third most taxed in the nation
- Guy
- Apr 15, 2024
- 1 min read
New Jersey residents pay $987,117 in lifetime taxes, the highest tab in the nation. Washington, D.C., comes in second, with a lifetime tax burden of $884,820. Connecticut comes in third at $855,307.
The report comes from the personal finance site Self Financial, based on research collected in January and February 2024. It considers taxes on income, homes, cars, clothing, food, drink, entertainment and personal care.
The average American pays $524,625 in lifetime taxes. This works out to 34.7% of the average American's lifetime earnings. For the average Connecticut resident, lifetime taxes represent 49.4% of earnings.