Survey: Arkansas No. 18 Among ?Wealth-Friendly? States
by July 7, 2003 12:00 am 65 views
Arkansas is ranked No. 18 in a survey by Bloomberg Wealth Manager magazine of America’s most “wealth-friendly” states.
For the survey, Wealth Manager editors compared the impact of state taxes on salary, real estate, personal property and retirement assets for four hypothetical families. They also conducted research on tax codes and effects in each state.
Arkansas’ ranking earned it a “B” grade for “wealth friendliness.”
For the sixth year in a row, Bloomberg ranked Wyoming as the country’s most wealth-friendly state, saying “the Cowboy State” leads the nation when it comes to letting families keep more of what they earn and own.
Rhode Island was ranked as America’s most “wealth-hostile” state for the third straight year.
Bloomberg used the results to determine how the tax bite can vary and how each state’s burden can change depending on one’s assets. Bloomberg said the identical set of financial parameters that generated a tax bill of $10,504 last year in Wyoming would have cost a family $68,583 in Rhode Island.