Top 5 States by Tax Revenue to GDP Ratio in the US

2. Vermont

Total Tax Revenue (2023): $4.49 Billion

GDP (2023): $43.13 Billion

Tax-to-GDP Ratio (2023): 10.43

Vermont collected nearly $4.49 billion in total taxes in 2023. Vermont has a graduated personal income tax, with rates ranging from 3.35% to 8.75%. The state also imposes a graduated corporate income tax from 6% to 8.5%. Vermont has the second highest tax-to-GDP ratio of 10.43 among the US states.