What's the most free state in the land of the free?

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New York Ranks Last in List of States with the Most Freedom

The United States of America — the land of the free. But apparently, not all freedom is created equal.

The Cato Institute released its 2016 rankings for "Freedom in the 50 States." The authors look at a wide range of indicators that fall into three broad categories: fiscal policy, regulatory policy and personal freedom.

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Each indicator is weighted differently. For example, state taxes, local taxes, government subsidies and government debt are the only four indicators affecting the fiscal policy ranking. But there are about 100 indicators that go into the personal freedom ranking. It includes everything from cigarette taxes and marijuana laws to incarceration rates and local gun bans.

Click through the entire ranking of states here:

50 PHOTOS
Freedom rankings of all 50 states
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Freedom rankings of all 50 states

50. New York

Fiscal freedom: #50
Personal freedom: #29
Regulatory freedom: #50

Change from 2012: 0

(Photo via Getty Images)

49. California

Fiscal freedom: #46
Personal freedom: #16
Regulatory freedom: #48

Change from 2012: 0

(Photo via Shutterstock)

48. Hawaii

Fiscal freedom: #49
Personal freedom: #37
Regulatory freedom: #41

Change from 2012: 0

(Photo via Marcin Moryc via Getty Images)

47. New Jersey

Fiscal freedom: #40
Personal freedom: #27
Regulatory freedom: #47

Change from 2012: 0

(Photo via Jerome Gorin via Getty Images)

46. Maryland

Fiscal freedom: #34
Personal freedom: #26
Regulatory freedom: #49

Change from 2012: 0

(Photo via Julie Thurston via Getty Images)

45. Connecticut

Fiscal freedom: #44
Personal freedom: #15
Regulatory freedom: #46

Change from 2012: -1

(Photo via Denis Jr. Tangney via Getty Images)

44. Illinois

Fiscal freedom: #48
Personal freedom: #20
Regulatory freedom: #40

Change from 2012: +1

(Photo via Rudy Balasko via Shutterstock)

43. Rhode Island

Fiscal freedom: #38
Personal freedom: #17
Regulatory freedom: #45

Change from 2012: 0

(Photo via Shutterstock)

Fiscal freedom: xx
Personal freedom: xx
Regulatory freedom: xx

Change from 2012: xx

(Photo via )

42. Maine

Fiscal freedom: #43
Personal freedom: #4
Regulatory freedom: #44

Change from 2012: -1

(Photo via Getty Images)

41. Kentucky

Fiscal freedom: #28
Personal freedom: #50
Regulatory freedom: #28

Change from 2012: -2

(Photo via )

40. Vermont

Fiscal freedom: #47
Personal freedom: #10
Regulatory freedom: #32

Change from 2012: -2

(Photo via Donald Landwehrle via Getty Images)

39. West Virginia

Fiscal freedom: #31
Personal freedom: #22
Regulatory freedom: #42

Change from 2012: +3

(Photo via Richard Nowitz via Getty Images)

38. Minnesota

Fiscal freedom: #45
Personal freedom: #8
Regulatory freedom: #34

Change from 2012: +2

(Photo via Walter Bibikow via Getty Images)

37. Oregon

Fiscal freedom: #39
Personal freedom: #18
Regulatory freedom: #36

Change from 2012: -2

(Photo via Anna Gorin via Getty Images)

36. Mississippi

Fiscal freedom: #41
Personal freedom: #47
Regulatory freedom: #11

Change from 2012: -2

(Photo via Richard Cummins via Getty Images)

35. Ohio

Fiscal freedom: #24
Personal freedom: #44
Regulatory freedom: #31

Change from 2012: +1

(Photo via Henryk Sadura via Getty Images)

34. Louisiana

Fiscal freedom: #19
Personal freedom: #39
Regulatory freedom: #35

Change from 2012: -4

(Photo via Getty Images)

33. Massachusetts

Fiscal freedom: #36
Personal freedom: #11
Regulatory freedom: #39

Change from 2012: -4

(Photo via Getty Images)

32. Washington

Fiscal freedom: #35
Personal freedom: #5
Regulatory freedom: #43

Change from 2012: -1

(Photo via Getty Images)

31. Delaware

Fiscal freedom: #29
Personal freedom: #31
Regulatory freedom: #33

Change from 2012: +6

(Photo via Getty Images)

30. New Mexico

Fiscal freedom: #42
Personal freedom: #1
Regulatory freedom: #38

Change from 2012: +3

(Photo via Bob Stefko via Getty Images)

29. Arkansas

Fiscal freedom: #27
Personal freedom: #41
Regulatory freedom: #21

Change from 2012: -1

(Photo via Wesley Hitt via Getty Images)

28. Texas

Fiscal freedom: #10
Personal freedom: #49
Regulatory freedom: #27

Change from 2012: -2

(Photo via Getty Images)

27. Wisconsin

Fiscal freedom: #37
Personal freedom: #25
Regulatory freedom: #19

Change from 2012: -7

(Photo via Henryk Sadura via Getty Images)

26. Pennsylvania

Fiscal freedom: #13
Personal freedom: #23
Regulatory freedom: #37

Change from 2012: +1

(Photo via Getty Images)

25. Nebraska

Fiscal freedom: #22
Personal freedom: #2
Regulatory freedom: #25

Change from 2012: -7

(Photo via Shutterstock)

24. Michigan

Fiscal freedom: #18
Personal freedom: #38
Regulatory freedom: #16

Change from 2012: -7

(Photo via Getty Images)

23. Alabama

Fiscal freedom: #6
Personal freedom: #48
Regulatory freedom: #18

Change from 2012: -4

(Photo via Getty Images)

22. Georgia

Fiscal freedom: #14
Personal freedom: #43
Regulatory freedom: #15

Change from 2012: -7

(Photo via Henryk Sadura via Getty Images)

21. Virginia

Fiscal freedom: #12
Personal freedom: #34
Regulatory freedom: #23

Change from 2012: +3

(Photo via Getty Images)

20. Utah

Fiscal freedom: #20
Personal freedom: #33
Regulatory freedom: #9

Change from 2012: +2

(Photo via Getty Images)

19. North Carolina

Fiscal freedom: #17
Personal freedom: #13
Regulatory freedom: #26

Change from 2012: +4

(Photo via Getty Images)

18. Missouri

Fiscal freedom: #9
Personal freedom: #28
Regulatory freedom: #24

Change from 2012: -6

(Photo via Shutterstock)

17. Montana

Fiscal freedom: #7
Personal freedom: #21
Regulatory freedom: #30

Change from 2012: +4

(Photo via Getty Images)

16. Kansas

Fiscal freedom: #3
Personal freedom: #24
Regulatory freedom: #4

Change from 2012: +9

(Photo via John Coletti via Getty Images)

15. South Carolina

Fiscal freedom: #23
Personal freedom: #19
Regulatory freedom: #13

Change from 2012: +5

(Photo via Getty Images)

14. Wyoming

Fiscal freedom: #21
Personal freedom: #32
Regulatory freedom: #3

Change from 2012: 0

(Photo via Getty Images)

13. North Dakota

Fiscal freedom: #15
Personal freedom: #35
Regulatory freedom: #6

Change from 2012: -2

(Photo via Getty Images)

12. Nevada

Fiscal freedom: #25
Personal freedom: #3
Regulatory freedom: #22

Change from 2012: -2

(Photo via Andrew Zarivny via Shutterstock)

11. Colorado

Fiscal freedom: #22
Personal freedom: #2
Regulatory freedom: #25

Change from 2012: +2

(Photo via Getty Images)

10. Arizona

Fiscal freedom: #16
Personal freedom: #14
Regulatory freedom: #17

Change from 2012: +6

(Photo via Jaap Hart via Getty Images)

9. Iowa

Fiscal freedom: #30
Personal freedom: #12
Regulatory freedom: #5

Change from 2012: -3

(Photo via Getty Images)

8. Florida

Fiscal freedom: #4
Personal freedom: #36
Regulatory freedom: #20

Change from 2012: -1

(Photo via Philip Lange via Getty Images)

7. Idaho

Fiscal freedom: #8
Personal freedom: #45
Regulatory freedom: #1

Change from 2012: +1

(Photo via Charles Knowles via Shutterstock)

6. Tennessee

Fiscal freedom: #2
Personal freedom: #42
Regulatory freedom: #14

Change from 2012: -3

(Photo via Alamy)

5. South Dakota

Fiscal freedom: #3
Personal freedom: #46
Regulatory freedom: #7

Change from 2012: -4

(Photo via Getty Images)

4. Indiana

Fiscal freedom: #26
Personal freedom: #6
Regulatory freedom: #2

Change from 2012: 0

(Photo via Getty Images)

3. Oklahoma

Fiscal freedom: #5
Personal freedom: #30
Regulatory freedom: #10

Change from 2012: +2

(Photo via Walter Bibikow via Getty Images)

2. Alaska

Fiscal freedom: #11
Personal freedom: #7
Regulatory freedom: #12

Change from 2012: +7

(Photo via Sam Diephuis via Getty Images)

1. New Hampshire

Fiscal freedom: #1
Personal freedom: #9
Regulatory freedom: #29

Change from 2012: +1

(Photo via Getty Images)

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By their ranking, New York is the least free state in the nation, and its fiscal policy is mostly to blame. The authors write, "New York's local tax burden is twice that of the average state [and] debt is the highest in the country."

The other states rounding out the bottom five include California, Hawaii, New Jersey and Maryland.

South Dakota, Indiana, Oklahoma, Alaska and New Hampshire are considered the most free states in the country.

New Hampshire nabbed the top spot, thanks to both personal and economic freedom. The authors report the state has low incarceration rates and drug arrests, and they call it "one of the best states in the country for gun rights."

RELATED: State government tax collections per capita

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