Arkansas has 6th-worst taxpayer return on investment, study finds
ARKANSAS (KNWA/KFTA) – Tax Day is approaching on April 18 and 44 million Americans expect to pay this year’s taxes late due to the COVID-19 pandemic. To coordinate, WalletHub released its report on the states with the best and worst return on investment for taxpayers in 2022.
The personal finance website used 30 different measures to compare the quality and efficiency of state government services in five categories, including education, health, safety, economy and infrastructure and the pollution, taking into account the radically different rates at which citizens are taxed in each state.
In a statement on the Wallethub website, he says Americans have been looking at taxes with particular care during the COVID-19 pandemic and notes that 81% of people believe the government isn’t spending their tax dollars. for good reason, according to WalletHub’s taxpayer survey.
“However, we know that taxpayers’ return on investment, or ROI, varies depending on where you live. Federal income tax rates are uniform across the country, but some states receive significantly more federal funding than others. Different states also received vastly different amounts of COVID-19 aid,” the report said.
According to Wallethub’s findings, New Hampshire is the best state for taxpayer ROI and Hawaii is the worst. After New Hampshire, come Florida, South Dakota, Georgia and Virginia.
Arkansas found itself sitting at No. 45, posting a 36 for “total taxes paid per capita” and 43 for all government services.
The study also placed the natural state at No. 28 in education, 39 in health, 47 in safety, 36 in economy and No. 12 in infrastructure and pollution.
To view the full report, click here.