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Nov 18, 2011

This State Makes Its Millionaires Pay The Highest Income Taxes in The U.S

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Millionaires living in Oregon pay the highest income taxes in the U.S., according to Forbes' Ashlea Ebeling.

Ebeling asked tax publisher CCH to calculate how much a family of four with $1 million in adjusted gross income from salaries would pay (the scenario included $17,000 deducted for charitable contributions and $23,000 in mortgage interest).

Oregon beat out every other state: under the Forbes scenario, the family would owe $98,880 in taxes. The effective rate on that $1 million salary income would be 9.89%.

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To see which other states make their millionaires pay the highest income taxes.

10 Worst Tax States for Millionaire Earners
Check out "Forbes for The Slideshow"



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