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I have a job opportunity in Columbia or Florida, but I would be taking a significant pay cut. I hear the cost of living is low in SC, but taxes in SC seem ridiculously high. Lower pay plus high taxes, the math does not add up, especially when I could pay no income taxes. Am I off base?
SC state income tax is cheap, but I noticed in Columbia itself the sales taxes are higher than here in NY - 10%, including a 1% transportation tax. A place I ate dinner at had a little sign explaining it all. Makes me wonder if there are separate income taxes besides the state one.
Of course, compared a no-income-tax state, any tax will probably seem high.
Now people I know who've lived in Florida, some have told me Florida has all kinds of other little fees and things that they get you with to make up for the lack of an income tax. So you may want to work out what all your bills will be in both places in advance to really compare them.
SC is one of the cheapest states for gas, last Monday I passed several places under $3.00, as low as $2.87 cash at one place near Rock Hill.
SC state income tax is cheap, but I noticed in Columbia itself the sales taxes are higher than here in NY - 10%, including a 1% transportation tax. A place I ate dinner at had a little sign explaining it all. Makes me wonder if there are separate income taxes besides the state one.
Of course, compared a no-income-tax state, any tax will probably seem high.
Now people I know who've lived in Florida, some have told me Florida has all kinds of other little fees and things that they get you with to make up for the lack of an income tax. So you may want to work out what all your bills will be in both places in advance to really compare them.
SC is one of the cheapest states for gas, last Monday I passed several places under $3.00, as low as $2.87 cash at one place near Rock Hill.
That tax is only on dining out/prepared foods and accommodations. Property taxes are very low here.
Overall, things are cheaper here than they were in Florida. Housing is significantly less expensive here than in Florida metro areas. Property taxes are lower, gas is cheaper, health insurance costs me a lot less here.
Car taxes (and insurance) are a LOT higher here, though.
Can't get over that 7% income and sales tax, ridiculous. It appears SC has some of the highest income and sales taxes in the nation, yet one of the lowest per capita tax burdens. Must be a dead beat welfare state. Bet Wally World is packed when disability and welfare checks are dispersed. Will be renting so not worried about prop taxes, drive cheap car, looks like Florida is winning.
Can't get over that 7% income and sales tax, ridiculous. It appears SC has some of the highest income and sales taxes in the nation, yet one of the lowest per capita tax burdens. Must be a dead beat welfare state. Bet Wally World is packed when disability and welfare checks are dispersed. Will be renting so not worried about prop taxes, drive cheap car, looks like Florida is winning.
You do realize that renters pay for the property taxes indirectly through their rent, don't you?
I have no idea where you get the idea that SC is among the highest in the nation. All the sources I'm finding show SC is actually 41st for overall tax burden, around 29th for income taxes and 35th for sales taxes. Florida, on the other hand, while 45th in income taxes, is 10th in sales taxes, and 44th overall. Which, frankly, is fairly close to being a wash; if you drive much, just the difference in gas prices alone probably makes them about even.
You don't mention where in Florida your opportunity is, but I got news for you about Florida - unless you're moving to one of the three major cities and living downtown, you're going to find more pure white trash there than anywhere else. More than South Carolina, more than Alabama, even more than Mississippi. Walmart on the first of the month is a terrifying place to behold down there. Not trying to dissuade you from a decision you seem to have already made, just trying to bring down your expectations a little.
On the plus side, you can't swing a dead cat in Florida without hitting nine Publixes and three meddling old retirees screeching at you for swinging a dead cat.
I have a job opportunity in Columbia or Florida, but I would be taking a significant pay cut. I hear the cost of living is low in SC, but taxes in SC seem ridiculously high. Lower pay plus high taxes, the math does not add up, especially when I could pay no income taxes. Am I off base?
not sure what you are comparing SC taxes to, but in most instances they are low. Property tax on homes? Cheaper then many locations. There is a property tax levied on vehicles, but we pay less overall prop tax here then we did in WI and this includes a nicer home now and tax paid on multiple vehicles.
Sales tax isnt low in general but sales tax on cars is capped at $300 (try paying a full sales tax% on the actual purchase price of a car and you'll agree $300 is low). As stated, gas tax is very low.
To be honest, if your view of SC is skewed so bad, why even consider it?
When you eat out in the city of Columbia, you pay a 2% hospitality tax in addition to a 1% transportation tax in addition to a 7% state sales tax: 10%. You pay 2% on non-prepared food at the grocery store, 1% for transportation and 1% to offset a decrease in property taxes. You pay 10% on prepared food at the grocery store because it's considered competition to restaurants.
Someone feel free to correct this if I'm wrong. It's complicated.
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