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Seems like tax is the biggest thing people complain about. I often hear people cite states with no income tax as the best states to live in.
Is this true or does the state with no income tax get you another way?
How is life compared to two states (one with state income vs one without?)
It's the overall tax imo. Although one cannot side step income tax in order to save. You can avoid paying tax on some items. ex- Dont want to pay the high tax on weed in a Medical Marijuana state, grow your own.
It's the overall tax imo. Although one cannot side step income tax in order to save. Dont want to pay the high tax on weed in a Medical Marijuana state, grow your own.
If your income is low you might prefer a high income tax/low sales tax state. If your income is high you might prefer a no income tax/high sales tax state.
If your income is low you might prefer a high income tax/low sales tax state. If your income is high you might prefer a no income tax/high sales tax state.
What's funny is that people from high tax states like California and New York move to tax friendly states like Nevada, Washington, or Florida. I bet the people who brag that blue states pay for red states with their tax dollars pay little to no taxes.
It comes down to how you pay taxes, payroll and income or Property (Real Estate) sales taxes.
Some states with low or no income taxes have very high Real Estate and sales taxes.
Not necessarily true. Tennessee has no income tax and very low real estate taxes in most of the state. The sales tax is higher than average, but not the highest in the country. People who move to TN regularly comment on the c-d board that they are amazed at how low the tax burden here is and how much the state and local governments can do. I live in the 7th wealthiest county in the country, just south of Nashville, with some amazing schools, wonderful parks and libraries and ridiculously low taxes.
We have looked at other areas due to possibly job relocations in the past, and the amount of taxes some states have is insane. We would be paying $10,000s more for worse schools and less amenities.
It comes down to how you pay taxes, payroll and income or Property (Real Estate) sales taxes.
Some states with low or no income taxes have very high Real Estate and sales taxes.
and some states like New York have not only a high income tax (including some cities having an additional income tax like NYC) but also some of the highest property taxes in the nation, plus high environmental taxes and high insurance requirements against home-improvement people
and some states like New York have not only a high income tax (including some cities having an additional income tax like NYC) but also some of the highest property taxes in the nation, plus high environmental taxes and high insurance requirements against home-improvement people
Why do you think California and New York have such high taxes or many taxes?
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