Voters across the country rejected a slew of ballot measures that would have increased taxes on high earners, gasoline, and tobacco.

Two states—Florida and North Carolina—even amended their constitutions on Election Day to make it more difficult for lawmakers to enact future tax increases.

California was the outlier. Big companies in the Bay Area would see higher tax bills thanks to local ballot measures that appear headed for victory.

Golden State voters also rejected a ballot measure that would have...