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It's almost impossible to compare in a blanket statement. It really depends on your personal situation. Some states tax SSI and some don't. Some have higher Estate Taxes. Then you have to consider City taxes. To know what's better for your personal situation you have to consider your working status. Some states are better while you are working and some are better when you retire.
Residents of all states seem to complain that their taxes are too high but I would wager that we all pay something fairly similar, just in a different way. Some are still higher and some are lower but none are that far out of line with the nation.
Montana has no sales tax but we do have income tax and property taxes.
Texas has no state income tax. However, we can have some pretty hefty property taxes, depending on where you live. BUT our property is generally lower priced than in many other areas of the country, and you can also choose what size home or property you want, and which town or municipality you want to live in, so you do have some control over your property taxes.
No state income tax, but our 2500 square foot house on one acre costs us about $5000 a year in property taxes. Our property is worth about $285,000 (and $285,000 will buy you a very nice house in these parts), if that gives you some idea. Other taxes are OK. Our sales tax isn't horrible, but it's not super low either. However, that's another tax you can somewhat control.
Texas has no state income tax. However, we can have some pretty hefty property taxes, depending on where you live. BUT our property is generally lower priced than in many other areas of the country, and you can also choose what size home or property you want, and which town or municipality you want to live in, so you do have some control over your property taxes.
No state income tax, but our 2500 square foot house on one acre costs us about $5000 a year in property taxes. Our property is worth about $285,000 (and $285,000 will buy you a very nice house in these parts), if that gives you some idea. Other taxes are OK. Our sales tax isn't horrible, but it's not super low either. However, that's another tax you can somewhat control.
I didn't realize that was a privilege exclusive to Texas .
I didn't realize that was a privilege exclusive to Texas .
It's not - that's why I didn't say it was.
My point, which I will spell out for you since you obviously missed it, is that there is no state income tax in Texas, but when people often point out, "Well, you have higher property taxes that offset the fact that you don't have a state income tax," then I point out that we can more easily control the amount of our property tax (by choosing a smaller property, or a property in a county or municipality with a lower tax rate, etc) than we can the rate of a state income tax - which we are blessed NOT to have.
Unless you're poor or lower-middle class, in which case you'll probably pay more taxes than you would in a blue state that taxes more progressively. This is actually quite relevant to retirees and students--people who wouldn't be paying income tax, but who often get swindled moving to a state they think is 'low tax' because it has no income tax, only to end up getting hit very hard with sales taxes.
But how much is the difference really? I don't live in the US currently but I'm applying for a Visa as we speak.
I own a company and I'm planning on making millions of dollars a year in income. Want to build a big mansion and all that crap.
In Sweden (where I'm from) I pay about 75% in income tax, and that does not include sales tax etc (which is 25%).
If I make $500,000 in a year, I get to keep around $125,000.
I really like LA and California and my plan was to settle there. So, how much difference is it really between California and say, Texas? Will I pay 50% in California and 10% in Texas, or are the differences a lot smaller than that? (maybe hardly noticeable for a highly taxated guy like myself?).
How much would I get to keep if I made $500,000 in California respectively in Texas?
But how much is the difference really? I don't live in the US currently but I'm applying for a Visa as we speak.
I own a company and I'm planning on making millions of dollars a year in income. Want to build a big mansion and all that crap.
In Sweden (where I'm from) I pay about 75% in income tax, and that does not include sales tax etc (which is 25%).
If I make $500,000 in a year, I get to keep around $125,000.
I really like LA and California and my plan was to settle there. So, how much difference is it really between California and say, Texas? Will I pay 50% in California and 10% in Texas, or are the differences a lot smaller than that? (maybe hardly noticeable for a highly taxated guy like myself?).
How much would I get to keep if I made $500,000 in California respectively in Texas?
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