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The 27 US states where millionaires face the highest taxes

Jan 8, 2019, 21:52 IST

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The new GOP tax law may be shaking things up this tax season, but the gist remains the same: The more money you make, the more taxes you pay.

That's because America operates on a progressive tax system - as a person earns more and progresses through tax brackets, their tax rate increases for each level of income.

To get your taxable income, subtract the standard deduction from your annual income. Your tax bracket applies only to the amount you earn above the minimum income threshold for that bracket. For income below that limit, you pay the same federal income tax amount as everyone else, even if they earn less overall.

But that's at the federal level - when it comes to state income tax, how much you owe varies by state, especially if you're a top earner.

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Using the Tax Foundation, we found the top 27 states with the highest top tax bracket for single filers in 2018. Most states operate like the federal government and impose marginal tax rates, some impose a flat tax, and a few don't tax income at all.

Below, see the states where top earners face a tax rate of 6% or more. Several states impose the same top tax rate; in the event of a tie, the states are ranked alphabetically.

12 (TIE). Virginia

Top tax bracket for single filers: $17,000 or more

Top tax rate for single filers: 6%

12 (TIE). Missouri

Top tax bracket for single filers: $9,072 or more

Top tax rate for single filers: 6%

12 (TIE). Maryland

Top tax bracket for single filers: $250,000 or more

Top tax rate for single filers: 6%

12 (TIE). Rhode Island

Top tax bracket for single filers: $149,150 or more

Top tax rate for single filers: 6%

12 (TIE). Louisiana

Top tax bracket for single filers: $50,000 or more

Top tax rate for single filers: 6%

12 (TIE). Kentucky

Top tax bracket for single filers: $75,000 or more

Top tax rate for single filers: 6%

12 (TIE). Kansas

Top tax bracket for single filers: $30,000 or more

Top tax rate for single filers: 6%

12 (TIE). Georgia

Top tax bracket for single filers: $7,000 or more

Top tax rate for single filers: 6%

11 (TIE). West Virginia

Top tax bracket for single filers: $60,000 or more

Top tax rate for single filers: 7%

11 (TIE). South Carolina

Top tax bracket for single filers: $14,860 or more

Top tax rate for single filers: 7%

11 (TIE). Nebraska

Top tax bracket for single filers: $30,420 or more

Top tax rate for single filers: 7%

11 (TIE). Montana

Top tax bracket for single filers: $17,900 or more

Top tax rate for single filers: 7%

11 (TIE). Maine

Top tax bracket for single filers: $50,750 or more

Top tax rate for single filers: 7%

11 (TIE). Idaho

Top tax bracket for single filers: $11,043 or more

Top tax rate for single filers: 7%

11 (TIE). Connecticut

Top tax bracket for single filers: $500,000 or more

Top tax rate for single filers: 7%

11 (TIE). Delaware

Top tax bracket for single filers: $60,000 or more

Top tax rate for single filers: 7%

11 (TIE). Arkansas

Top tax bracket for single filers: $35,099 or more

Top tax rate for single filers: 7%

10. Wisconsin

Top tax bracket for single filers: $247,350 or more

Top tax rate for single filers: 8%

5 (TIE). Vermont

Top tax bracket for single filers: $416,650 or more

Top tax rate for single filers: 9%

5 (TIE). New York

Top tax bracket for single filers: $1,077,550 or more

Top tax rate for single filers: 9%

5 (TIE). New Jersey

Top tax bracket for single filers: $500,000 or more

Top tax rate for single filers: 9%

5 (TIE). Iowa

Top tax bracket for single filers: $71,910 or more

Top tax rate for single filers: 9%

5 (TIE). Washington, DC

Top tax bracket for single filers: $1 million or more

Top tax rate for single filers: 9%

3 (TIE). Minnesota

Top tax bracket for single filers: $160,020 or more

Top tax rate for single filers: 10%

3 (TIE). Oregon

Top tax bracket for single filers: $125,000 or more

Top tax rate for single filers: 10%

2. Hawaii

Top tax bracket for single filers: $200,000 or more

Top tax rate for single filers: 11%

1. California

Top tax bracket for single filers: $1 million or more

Top tax rate for single filers: 13%

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