Reference no: EM13995104
Most Tax-Friendly States in the U.S.
Created by Anthony Drummond
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I believe the take away from this article is that if a resident plans to take advantage of low state taxes, he or she has to make sure that the taxes are compatible with his or her lifestyle. Of course, that is very hard to do. I assume that the majority of U.S. citizens are not going to be moving with the primary purpose of taking advantage of state taxes. However, I do believe that many people will consider taking that into consideration when they plan to move. Some states that are income tax friendly may make up for the short fall by high property taxes. Texas was mentioned as an example of that scenario. Also, the majority of states allow municipalities and counties to add additional taxes such as sale levies to be combined with states sales taxes, which add up to 10% in some places (Block, 2015).
Delaware was listed as the most tax-friendly state. There is no sales tax, and the gas taxes and fees average 23 cents per gallon. Therefore, the state gas taxes and fees are significantly below average (national average is 30 cents). Delaware has the fourth-lowest property taxes as a percentage of home value (Block, 2015).
Reference
Block, S. (2015, November 12). Most Tax-Friendly States in the U.S. Retrieved November 15, 2015, from Kiplinger: https://news.yahoo.com/most-tax-friendly-states-u-182638935.html;_ylt=AwrC1CkqI0lWZwYA4mrQtDMD;_ylu=X3oDMTBydWNmY2MwBGNvbG8DYmYxBHBvcwM0BHZ0aWQDBHNlYwNzcg--
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Most tax-friendly states in the u.s.
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