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When It Comes To Taxes, Connecticut Ranks Among Worst States To Be Rich

FAIRFIELD COUNTY, Conn. -- Connecticut is ranked among the worst states for taxes for those who are deemed high income, according to WalletHub. 

WalletHub generated estimates of the state-specific tax burden on residents at three income levels — low ($25,000), medium ($50,000) and high ($150,000) — in each of the 50 U.S. states and the District of Columbia.

The Nutmeg State struggled mightily in all tax brackets, ranking 34th out of 51 for low-income earners with a tax burden of 10 percent, 46th for middle income earners with a tax burden of 10.8 percent and 50th for high income earners with a tax burden of 11.2 percent.

Neighboring New York fared even worse, ranking 43rd out of 51 for low income, and 51st for middle and high income earners. Middle and high-income earners in New York had a tax burden of more than 12 percent of their annual income, WalletHub said. 

The best state for taxes was Alaska, which ranked first in all three categories. 

Click here to read the full report from WalletHub.

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