Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-12-2017, 01:35 PM
 
Location: Cannes
2,452 posts, read 2,382,804 times
Reputation: 1620

Advertisements

Anyone moved to a tax haven country or state( Nevada, SD, WY Delaware)? I am thinking about it.

Last edited by toosie; 01-12-2017 at 05:00 PM.. Reason: Corrected spelling for clarity
Reply With Quote Quick reply to this message

 
Old 01-12-2017, 07:08 PM
 
Location: The Triad
34,091 posts, read 83,000,140 times
Reputation: 43666
cutting to the chase...
1) wherever you go you will have the same FEDERAL taxation.
2) any state that doesn't have an income tax WILL make it up in other ways.

So... what do you hope to achieve by the exercise?
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 10:56 AM
 
Location: Forests of Maine
37,469 posts, read 61,415,702 times
Reputation: 30419
As we retired, we migrated to a different state. Here we find that on our pensions our AGI gracefully slides below the minimum level that we would need to begin paying Income Taxes in this state.

We are not in a 'no' income tax state.

If your desire is to avoid paying income taxes [and we share that same desire] then you may wish to look at other states outside of those to do not have income taxes.
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 02:13 PM
 
Location: Cannes
2,452 posts, read 2,382,804 times
Reputation: 1620
cutting to the chase...
1) wherever you go you will have the same FEDERAL taxation.

So i am in Brazil right now, if i move to Panama i will have the same Federal taxation?

2) any state that doesn't have an income tax WILL make it up in other ways.

Care to expand on that?
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 03:15 PM
 
Location: The Triad
34,091 posts, read 83,000,140 times
Reputation: 43666
Quote:
Originally Posted by survivingearth View Post
1) wherever you go you will have the same FEDERAL taxation.
So i am in Brazil right now, if i move to Panama i will have the same Federal taxation?
Don't be pedantic. This is about the US. Those states.

Quote:
2) any state that doesn't have an income tax WILL make it up in other ways.
Care to expand on that?
Real estate taxes (far higher than other places) are the main alternate source
which will show up in rents too if you don't own.

Then a whole host of other petty "personal property" taxes and similar...
Then there are the fees for everything that should be a part of taxes.

Or did you imagine these states had some way to pay for things that didn't come from the people?
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 03:48 PM
 
Location: Forests of Maine
37,469 posts, read 61,415,702 times
Reputation: 30419
Some states may tax corporations heavily to make up the short fall, without raising property taxes.
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 04:03 PM
 
Location: The Triad
34,091 posts, read 83,000,140 times
Reputation: 43666
Quote:
Originally Posted by Submariner View Post
Some states may tax corporations heavily to make up the short fall, without raising property taxes.
And some actually did that --at one time.

F'rinstance Florida and all the Disney money.
But eventually it became untenable
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 04:15 PM
 
Location: Forests of Maine
37,469 posts, read 61,415,702 times
Reputation: 30419
Many years ago, this state began a program called 'revenue sharing' where the biggest cities maybe 0.5% of the state, would get state subsidy money to help pay for city services.

Kind of like taxing 99.95% of the towns in the state, to help pay for the Parks and Rec of those few cities.

Our current governor has stopped 'revenue sharing', and those cities are screaming about it. Their property taxes have had to go up to cover for the lost revenue.

Meanwhile property taxes in the majority of the state have gone down.

Now which story do you think gets the news coverage?

My property taxes have gone down, and I pay no income tax. The news is about how taxes are going up.
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 04:19 PM
 
Location: Haiku
7,132 posts, read 4,770,781 times
Reputation: 10327
I lived in a state with no income tax (Washington) but RE tax was really high and so was sales tax and tax on booze. We moved to a state with an income tax (Hawaii) and pay less total tax. It does not tax SS or pensions which is a good chunk of our income and has the lowest property tax in the US.
Reply With Quote Quick reply to this message
 
Old 01-13-2017, 06:12 PM
 
Location: Cannes
2,452 posts, read 2,382,804 times
Reputation: 1620
Quote:
Originally Posted by MrRational View Post
Don't be pedantic. This is about the US. Those states.

Real estate taxes (far higher than other places) are the main alternate source
which will show up in rents too if you don't own.

Then a whole host of other petty "personal property" taxes and similar...
Then there are the fees for everything that should be a part of taxes.

Or did you imagine these states had some way to pay for things that didn't come from the people?
I am not being pedantic , "Anyone moved to a tax haven country or state"
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6. The time now is 05:30 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top