CHICAGO - A new study by Wall Street 24/7 lists the top ten states whose budgets benefit most from so-called "sin" taxes - the money that comes from taxing citizens indulging in tobacco, alcohol and gambling.
Not surprising, Nevada rakes in the most sin revenue - a hot $1,013,568,000 of the state's $17,597,124,000, with the most coming from taxes paid from - you guessed it - gambling casinos.
The second through fifth highest sin tax states are all on out East: #2 Rhode Island, #3 Delaware, #4 West Virginia #5 New Hampshire.
But #6 is next door to Illinois - the state of Indiana, Wall Street 24/7 says. "Relative to its total budget, Indiana raised less revenue from alcohol than 40 other states in 2011. Indiana’s taxes on cigarettes were among the lowest in the nation, at under a dollar per 20-pack," the report says.
Indiana's casinos are the sins pulling in the most, with an annual revenue from sin of $1,552,600,000, 4 percent of the total state revenue of $38,894,976,000.
While casinos seem the most profitable, other states' hit the jackpot with their lotteries. However, the sins Illinois picks to tax just don't rank high enough to be among the top 10 revenue winners - that is, yet.