MURFREESBORO, Tenn. (WMOT) -- It may surprise you to learn that Tennessean’s get more from the Federal Government than they pay in taxes.
With the April 15th tax deadline looming on the horizon, the personal finance website Wallethub.com decided to take a look at the tax relationship between the the federal government and the states.
It turns out that for every dollar Tennesseans send to Washington, the state gets back $1.30.
Wallethub analyst Jill Gonzalez says that what’s even more surprising is that the more conservative a state is, the more likely it is to get more than it pays in federal taxes.
“We found in this study that blue states are less dependent on the federal government, ranking average 18th, while red states ranked an average of 33rd.”
The Walletbub study shows that 21 states get more from the federal government than residents pay in taxes. South Carolina gets more than $5 for every dollar paid in federal taxes, while New Jersey gets just 45 cents on the dollar.
Would you like to review the Wallethub report?