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Old 05-20-2017, 11:43 AM
 
2,611 posts, read 2,849,017 times
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Seven U.S. states currently don't have an income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Adding New Hampshire and Tennessee as well.

I know that property tax in NV is lower than Texas, New Hampshire, Florida and Washington. How about other states?

Our sale tax is up to 8.265%. Texas is up to 8.25%. Washington in Seattle is 10.1%. Florida is up to 8%. Tennessee is up to 9.25%, Wyoming is up to 6%, and South Dakota is up to 6.5%. New Hampshire and Alaska have no sale tax.

Gas taxes in NV and WA are high. Washoe County is 80 cents/ gallon. Clark County is 52.25 cents. Washington is 62.9 cents. Texas is 38.4 cents. TN is 43.8 cents. NH is 42.23. WY is 42.4 cents.

Car registration in NV is very high and depend on the price of the car. Texas is about $100/year (registration, fee, smog test). How about other states?

Any other important taxes I forgot?

I think in general if you are high income and want big house, NV is best. If you drive a lot and want luxury car, other states (?Texas may be better).
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Old 05-20-2017, 12:41 PM
EA
 
Location: Las Vegas
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A lot of the guys with exotics register in Montana. There's a pretty big tax loophole there.
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Old 05-20-2017, 01:11 PM
 
Location: Paranoid State
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Quote:
Originally Posted by EA View Post
A lot of the guys with exotics register in Montana. There's a pretty big tax loophole there.
Why specifically Montana (in contrast to some other state)?
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Old 05-20-2017, 01:13 PM
 
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Nevada ranks 30th in overall tax burden per this article:

https://wallethub.com/edu/states-wit...-burden/20494/

As for the Montana LLC thing, many states are pursuing those as tax evasion schemes. If you genuinely have a operating business registered in Montana, no problem. But if it is a shell company, even the state of Montana says the home state of the owner can collect the sales and annual taxes.
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Old 05-20-2017, 01:21 PM
EA
 
Location: Las Vegas
6,791 posts, read 7,072,939 times
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Quote:
Originally Posted by SportyandMisty View Post
Why specifically Montana (in contrast to some other state)?

Here's Why So Many Exotic Cars Have Montana License Plates - Autotrader
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Old 05-20-2017, 01:21 PM
 
9,776 posts, read 7,028,672 times
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Quote:
Originally Posted by SportyandMisty View Post
Why specifically Montana (in contrast to some other state)?
In the early 2000's, people began setting up LLC's in Montana because you can register a car to the company and avoid sales tax in your state. But as I noted above, if the car comes into your legal domicile (say Massachusetts) and is garaged there regularly, the owner is liable for paying sales and excise tax as well as registration fees to the state of Massachusetts.
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Old 05-20-2017, 03:19 PM
 
Location: Lone Mountain Las Vegas NV
18,058 posts, read 10,211,083 times
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Quote:
Originally Posted by robr2 View Post
Nevada ranks 30th in overall tax burden per this article:

https://wallethub.com/edu/states-wit...-burden/20494/

As for the Montana LLC thing, many states are pursuing those as tax evasion schemes. If you genuinely have a operating business registered in Montana, no problem. But if it is a shell company, even the state of Montana says the home state of the owner can collect the sales and annual taxes.
Forbes puts NV as 42nd on the basis of taxes paid per capita.

Tax Foundation numbers put NV as 43rd.

No huge differences...8.1% to 8.25%
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Old 05-21-2017, 01:51 PM
 
Location: Studio City, CA 91604
3,049 posts, read 4,508,296 times
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I have a friend who is stationed at the Naval Base in Fallon, but lives off-base in town. He says he built a shed on his back lot and recently received a letter from the state that his property tax will increase due to the "improvement" to the property...

To think, building a shed to house a lawn mower and tools would cause an increase in property taxes???

We don't even do that sort of thing here in California.
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Old 05-21-2017, 02:17 PM
 
Location: Lone Mountain Las Vegas NV
18,058 posts, read 10,211,083 times
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Quote:
Originally Posted by kttam186290 View Post
I have a friend who is stationed at the Naval Base in Fallon, but lives off-base in town. He says he built a shed on his back lot and recently received a letter from the state that his property tax will increase due to the "improvement" to the property...

To think, building a shed to house a lawn mower and tools would cause an increase in property taxes???

We don't even do that sort of thing here in California.

"Shed" is a somewhat misleading term. I know of a case in NW Las Vegas where a "hay storage shed" turned out to be a 10,000 SF facility with his and her multi stall bathrooms.

The most likely reason, particularly in Fallon, would be someone filed for a permit and it was not a shed for a lawnmower. They also pick these up from periodic aerial photos though again it would have to show as a pretty good sized thing before they would pick it up asnd AI would be surprised that they do that in Fallon.. The only other way is they got turned in by a neighbor.
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Old 05-21-2017, 05:43 PM
 
Location: Henderson, NV
7,087 posts, read 8,583,826 times
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Quote:
Originally Posted by robr2 View Post
Nevada ranks 30th in overall tax burden per this article:

https://wallethub.com/edu/states-wit...-burden/20494/

As for the Montana LLC thing, many states are pursuing those as tax evasion schemes. If you genuinely have a operating business registered in Montana, no problem. But if it is a shell company, even the state of Montana says the home state of the owner can collect the sales and annual taxes.
LOL then that article is horribly wrong. Nevada has one of the lowest tax burdens in the entire country. Unless you're talking about a poor person who doesn't make any money, then maybe the sales tax matters, but as a high earner in Oregon I can tell you that Nevada is a tax dream. It's in the top 5 anyway.
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