No Income Tax States: Who Benefits From Living in One
Everyone wants to have lower taxes. Taxes are something that people are more than likely to complain about, and they see them as the way the government takes away from their hard-earned money.
A way to accomplish having a lower tax bill is to live in a state with no income taxes. Here is a list of the nine no-income-tax states:
Here is a list of the nine no-income-tax states:
– New Hampshire
- South Dakota
You do not need to pay income taxes on your income, which means you can keep more of your money and use the savings to invest the money.
Why Move to One of the No Income Tax States?
So the more money you make, the more you have to pay. If you are already paying a ton to the federal government, you do not want to pay more to the state government.
In no income tax states, the states impose taxes and various things such as higher sales tax or even higher property tax.
Does Living in a No Income Tax State Save You Money?
New Hampshire and Alaska have some of the highest property taxes in the United States; they make anywhere between 45-63% of their taxable income from property taxes.
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No Income Tax States
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