7.18.2009

State tax info




The following states have no state income tax for individuals:

Alaska - no sales tax either- the state is completely run on petroleum industry revenues
Florida - the state sales tax is between 6.5 - 7.0% depending on your county, no tax on food or prescription drugs (Rx)
Nevada - sales tax between 6.5 - 7.75% depending on your county, no tax on food, Rx
South Dakota - state sales tax 4% everywhere you go! No tax on food/Rx
Texas - state sales tax is 6.25%, no tax on food/Rx
Washington - state sales tax, 6.25%, no food, Rx taxes!
Wyoming - state sales tax is 4%, except if you're buying food, Rx- then there is no tax.

Special mentions go to:
Arizona - 4.54% for incomes >150K
Colorado - 4.63% of Federal taxable income
Connecticut - 5.0% I was surprised by this, compared to its northeast neighbors, its a steal.
Illinois at 3%, but I happen to know that its being raised to 5% next year, there is a huge budget deficit in my home state.
New Mexico - 4.9%
North Dakota - 3.81%>82K, 4.42%>171K, 4.86%>372K
Pennsylvania - 3% flat, not bad.
Utah - 5%

And the most tax oppressive states in the union? Check this out:
Hawaii State income tax: Income >150K 10-11%!!!!!!!!!
Think life will be better in Oregon? Income>175K, Oregon state income tax a whopping 11%!!!!!!!!



No comments: