Take this trivia quiz and test your state tax knowledge!
Here’s a quiz to test your state tax IQ and give you some fun facts about the taxes paid by friends in other states.
Thinking about buying a new house? Which state has the highest property taxes?
b. New Jersey
d. New Hampshire
b. New Jersey. Unlike most states, New Jersey does not allow counties and cities to impose their own sales tax, so these localities get all their tax revenue from property taxes. In 2018, the property taxes in the 8 most expensive New Jersey towns averaged more than $20,000 while another 47 towns exceeded $15,000!
Which state will drive up the cost of your shopping spree with the highest sales tax?
c. New York
a. Tennessee. At 9.53%, Tennessee has the highest combined sales tax rate in the nation. It’s a tough pill to swallow when you consider that the same purchase made in Kentucky may cost only 6% in sales tax!
Relocating for a new position? Which state will take the most taxes out of your new salary?
b. California. Before accepting your new job, run the numbers to see how your take-home pay compares. California’s top income tax bracket rate is 13.3%.
If you are headed on a brewery tour, in which state will you pay more for a pint of your favorite adult beverage?
b. South Carolina
d. Tennessee. The Volunteer State charges a beer tax of $1.29 per gallon. Fun fact: Tennessee is technically a dry state. The state leaves it up to individual counties and cities to determine whether alcohol can be purchased.
When planning a vacation, which state charges you the most for staying in a hotel?
b. Connecticut. Book a room in Connecticut and you’ll pay a whopping 15% in lodging taxes. To fix a temporary issue with the state budget in 2011, the state bumped it up from 12%. The Nutmeg State must have gotten used to the extra revenue.