States profiting the most from sin

Updated

In 2011, state governments collected more than $50 billion in taxes and proceeds from vice: gambling, smoking and alcohol consumption.

Some argue that state governments should not profit from residents’ vices. Frequently, consumption is higher in the states making the most from sin taxes.

But some states rely on these activities for a substantial proportion of their budget. In Nevada, “sin taxes” accounted for nearly 6% of the state’s revenue.

Based on data from the Census Bureau and the American Gaming Association, 24/7 Wall St. identified the states where the largest percentage of revenue came in the form of proceeds from alcohol, tobacco and casino taxes, as well as the lottery and state-regulated liquor stores. Yahoo! Homes is publishing the top five states profiting most from sin. | By Michael B. Sauter, Alexander E. M. Hess and Thomas C. Frohlich, 24/7 Wall St.

Click here to see the rest of the top 10 states profiting most from sin on 247WallSt.com.