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Old 01-25-2013, 09:16 PM
 
29,782 posts, read 34,880,403 times
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Quote:
Originally Posted by Ariadne22 View Post
This is true. However, that still doesn't mean taxing food is the right thing to do. Kinda reminds me of the line from A Christmas Carol:
Too many think like this, these days.

Granted, I see plenty of loafers and moochers and people gaming the system. Unfortunately, implementing a regressive tax also captures, imo unfairly, the truly needy into that net.
I understand what you are saying and yes there are many that think that way and where they are in the majority they are electing a state government that thinks that way. Once the policy is implemented it will begin to draw like minded people to those states and even if folks don't think that way they may still come because of the tax advantages. Altruism is not a dominant gene and Ayn Rand has not been eliminated but is still lurking under the surface for many folks. Also it is a lot easier to want and vote for new programs if you don't have to pay for them but with everyone paying for them more fiscal conservatives might be born and less free spenders elected.
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Old 01-25-2013, 09:32 PM
 
Location: Lexington, SC
4,281 posts, read 10,743,032 times
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Tough question. States can vary quite a bit depending on their definition of fulltime resident as they can on prime or part time residence and quite often both are not the same.

Tax rates can also vary within a state for fulltime versus part rime residence as in owning two homes in the state.

I have seen people play one against the other for what they thought was their benefit (such as auto registration/insurance) but end up in legal trouble as they did not seek professional advice as to how to "work it" to their advantage.

You will need at least a tax person (CPA) to help you decide which to claim where based on your situation and maybe even more advice like from an auto insurnace agent to "work it" to your advantage.

It can be "worked" but be careful.
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Old 01-26-2013, 03:34 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,938,980 times
Reputation: 6716
Quote:
Originally Posted by newenglandgirl View Post
Just the opposite of what our demo governor is pushing. I think I now want to live in a Republican-run state.
Come on down to Florida . Although - to be fair - in the 40+ years I've lived here - we've had both Republican and yellow-dog Democrat governors.

We have *no* income tax - so we don't have to worry whether various forms of retirement income are taxed at the state level. And - unlike states where subjecting various forms of retirement income is subject to legislative whim - we'd need to amend our state constitution to impose a state income tax.

We have a "normal" sales tax (no tax on things like groceries - medical and similar services - etc.). 6% at the state level - although the rate can go higher in various counties that choose to provide things like extensive hospital networks for the indigent. My county is a 6% county. Note that if I buy something in a higher tax county - like a car - I only have to pay the sales tax that is charged in my county. Also - for the past X years - and at least for now - since we don't have a state income tax - we get to deduct our sales tax off our federal income tax returns if we itemize deductions (I think - but don't know off the top of my head - that you get the larger of the income tax or sales tax in states with an income tax).

Our property taxes are actually quite reasonable - especially for lower income people who live in modest housing - once you take things like the homestead deduction and valuation weirdness into account. I pay about 1% give or take on what I could sell my house for tomorrow in < week. Less in taxes if I didn't have to sell in < week . And I am not a lower income person in a modest house.

About the only complaint I've heard in recent years is our initial auto registration fee for newcomers has gotten pretty high. But - for someone who is planning on staying here for a long time - it's a once and done thing. Our annual fee is about $70/year.

Also - if you stay away from the really costly parts of the state - your rates on things like auto insurance/Medigap policies/etc. will be pretty reasonable.

FWIW - we moved here initially from Philadelphia to escape both the weather and the tax situation there (which - even in the early 70's - was oppressive).

And to the person who mentioned the tax on miles you drive - that's kind of a new thing that is being mentioned increasingly in a lot of places (as people wind up owning cars that are more fuel efficient). Although I haven't heard of such a proposal being floated around in Florida yet. Robyn
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Old 04-15-2013, 01:09 PM
 
Location: Austin, TX
16,721 posts, read 41,016,262 times
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Quote:
Originally Posted by Info Guy View Post
So 401K will not be taxed in Texas?
Texas has NO personal income tax. Property taxes are higher though in some cities so you should check before moving. Some counties offer homestead exemptions and other exemptions for disabled or elderly.
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Old 04-16-2013, 11:37 AM
 
Location: The Triad (NC)
28,506 posts, read 62,217,072 times
Reputation: 32199
Quote:
Originally Posted by CptnRn View Post
Texas has NO personal income tax.
Property taxes are higher though in some cities...
Last I heard Travis has a rate of about 2.5-3%

How about laying out one specific city... f'rinstance Austin ?
Let's take a couple coming to Austin for an active retirement where they pay cash to buy a property
for $250,000. What are they up against to close that deal? And then for annual taxes on it?
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Old 04-16-2013, 12:02 PM
 
48,516 posts, read 83,966,925 times
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Texas has n state income tax. that is property taxes which vary by coutnty and local agnecy with taxing authority. Al state ahve some method of taxing to get reveues. Liek mentioned coe countries;cities within other taxing agency which make up local taxes give over 65 discount or fix the amount once you reach 65 at that elvel. You can see the vaioue rates by do a search and checkig the published tax rate. I think even this site sj hows them in their city stats but remmber there are other taxing agencies in many like anywhere else. For that you can go to a home slaers site and see estimated taxes in specific area.But then one alos has to consider just what a 250K house is has its avries hugely aroud the countyr and even withi states.
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Old 04-16-2013, 12:55 PM
 
Location: The Triad (NC)
28,506 posts, read 62,217,072 times
Reputation: 32199
Quote:
Originally Posted by texdav View Post
Texas has n state income tax.
that is property taxes which vary by coutnty and local agnecy with taxing authority.
Was that meant to address my post? If so, then no thanks.

Rather than get into all the who struck John of what might or could be...
I was asking about just one specific example.
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Old 04-22-2013, 08:47 AM
 
Location: Bend Or.
1,126 posts, read 2,459,763 times
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Quote:
Originally Posted by mg420 View Post
There is an interesting comparison if you look at the total tax burden by state. The burden is figured based on percentage of average income. But is you move to a state with lower average income, your tax burden may be less. Example:
I live in CO and they have a burden of 9.1 percent. This amounts to $4104 tax on a State income of $45125.

I am moving to OR, which shows a 10$ state and local tax burden but that burden ( $3729) is based on an average income of only $37,432.

Since my income will be the same regardless where I live, I will actually save about 9% in state and local Taxes in Oregon.
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Old 04-23-2013, 08:31 AM
 
Location: Wherever I happen to be at the moment
1,229 posts, read 1,138,999 times
Reputation: 1836
Our state taxes pensions and other income but not Social Security. Because of the nature of our pensions we are only taxed on the amount that exceeds the SS forgiveness up to a point. However, due to our ages and those deductions, coupled with standard deductions, we pay no state income tax at all. It can decidedly be confusing and you really have to read the fine print. States that have no income tax may not be the cheapest after all when property and sales taxes are factored in.
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Old 04-23-2013, 08:41 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,622 posts, read 39,986,663 times
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Quote:
Originally Posted by whirnot View Post
There is an interesting comparison if you look at the total tax burden by state. ...I live in CO ....I am moving to OR, ....Since my income will be the same regardless where I live, I will actually save about 9% in state and local Taxes in Oregon.
And my inlaws had just the opposite response when they moved from CO to OR... (SO much more in taxes they claim). I solved the income tax by chosing WA, which worked fine until my Property tax went from $800/yr to $14,400/yr. (and precisely why I left CO in 1980 due to Calfornization of the taxes on my CO property.)

Meanwhile.... onward. (Keep your bags packed).
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