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How many of your state's taxes leave the state (and don't come back)
How many of your state's taxes leave the state (and don't come back)
Christopher CurleyJan 26, 2019, 05:14 IST
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People and businesses in every state pay taxes to the federal government to help fund vital services.
Not every state contributes equally, however. Some pay more than they get back while many states receive more than they put in.
In 2017, New Jersey paid $24.75 billion more to the federal government than it got back compared to New Mexico, which received $20.096 billion more than its citizens paid.
Citizens and companies in every US state pay taxes to the government, but the resources and services that come from this collective funding aren't distributed equally. Depending on a state's level of need, population, etc. some states receive far more federal funding than others.
The New York State Comptroller conducted a study on exactly this for fiscal year 2017. It found that New Jersey sees more of its taxes leave the state than any other, $24.75 billion that year, and on the flip side, New Mexico received $20.096 billion more from the federal government than its citizens and corporations paid. Based on the state's population, that amounts to a net gain of nearly $10,000 per person.
See how much your state gains or loses in taxes. A positive number indicates more money going back to the state than is paid out, while a negative number means the state is contributing more than it gets back.