According to an article in The Kiplinger Report, the five most expensive US States to live in are California, Hawaii, New York, New Jersey, and the District of Columbia.

California

Not surprisingly, California takes first place as the most expensive state for millionaires. The Golden State recently raised its top income tax bracket by 1.1%, from 13.3% to 14.4%.  But California was the most expensive state for high earners last year, too, before the increase took effect.

Hawaii

Hawaii is an expensive state for high earners to live in. The top income tax rate is 11%. And notably, you don’t need to be a millionaire for the state to tax some of your income at that rate.

• Single and married filing separately taxpayers will pay 11% on more than $200,000 of taxable income.
• Heads of household pay the 11% tax rate on more than $300,000 of taxable income.
• Joint filers pay 11% on more than $400,000 of income.

New York

It’s no surprise that New York taxes high earners at one of the highest rates in the U.S. The top income tax bracket in the state is 10.9%. However, only taxpayers with taxable incomes greater than $25 million fall into this bracket. If your taxable income falls between $1 million and $25 million, you can expect to be subject to a tax rate of anywhere between 6.85% and 10.3%, which is still high compared to most other states.

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