NJ Residents Pay Highest Average Lifetime Taxes In U.S., Study Says

NEW JERSEY — Garden State residents will fork over close to $1 million in taxes over a lifetime on average, the most of any U.S. state, according to a report released by Self Financial.

New Jerseyans pay an average $987,117 in lifetime taxes, or about 54.3 percent of their lifetime earnings, according to the study conducted by researchers at the Texas-based financial technology company. This includes an average $334,260 tax on earnings, $54,961 on personal expenses, $564,614 on property and $33,282 on cars.

The Garden State tops the list of states where residents pay the highest lifetime taxes on average, with D.C. and Connecticut trailing behind at $884,820 and $855,307, respectively.

Massachusetts ($816,700) and New York ($748,199) also cracked the top 5 list, followed by New Hampshire ($722,610).

West Virginia and Louisiana pay the least lifetime taxes on average at $358,407 and $358,611, respectively. West Virginia residents shell out about 28.4 percent of their lifetime earnings, the study found, though Alaska residents pay the lowest percentage of their life’s earnings on tax ($400,742) — the equivalent of 24.5 percent of their lifetime earnings.

You can view the full state-by-state breakdown here.