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The tax accountant will come and the tax accountant will take it.As a great person there really is no avoiding the government taking a piece of your pie eloquently pointed out.
But there are still some places to escape taxation. Several US states do not impose personal income taxes and there are no signs of that changing anytime soon.
Sure, there are plenty of other taxes you have to pay, like federal income tax, property tax, and sales tax, but at least in the following states you can keep your money for a while.
Check out the slideshow to see which states don’t charge state taxes on Tax Day.
Alaska
there is No personal state income tax For the residents of the Last Frontier, there hasn’t been one since 1980.
However, on April 10, Anchorage Independent Rep. Alyse Galvin introduced the bill (House Bill 156) to tax state residents 2% of annual income over $200,000 Alaskans who earn less than that total $20.
florida
The Sunshine State has some taxes that residents must pay, No personal income taxIn addition, there is no inheritance tax, gift tax, or intangible property tax.Forbes says Florida has 6th lowest total tax burden 2022.
Nevada
silver state No personal, business, or corporate income taxHowever, states have 7th highest sales tax among all statesaccording to the Tax Foundation.
new hampshire
Granite State does not tax residents’ W-2 wages, but does impose a 5% tax on interest and dividend income. gradually to zero 2026 and beyond. But homeowners here 3rd Highest Property Tax Rate all over the country.
south dakota
Mount Rushmore State do not evaluate state income tax. After Gov. Christy Noem, residents will keep more money in their accounts for years to come. signed the bill Implement the largest tax cut in state history, lowering the overall sales tax rate from 4.5% to 4.2% over four years.
Tennessee
Volunteer states do not impose income tax, but income tax is limited For certain dividends and interest income.
However, the consumption of goods and services is subject to a consumption tax rate of second highest all over the country.
texas
Lonely Star State Selling a “business-friendly climate” — No corporate or personal income tax. ’ But the Texans can’t get off so easily.Consumption tax and property tax are quite high. As this report shows.
Washington
there is No personal state income tax Or Evergreen corporate tax. However, if you do business within the state, there are business and occupation (B&O) and/or public works taxes.
There’s also a new tax coming down the pike— Statewide tax rate 7% Capital gains over $250,000 from the sale of stocks and bonds, excluding exceptions.
wyoming
egalitarian nation do not evaluate Personal income tax, and homeowners age 62 and older can avoid even more tax burdens with property tax deferrals.