States With No State Tax


These 7 U.S. States Have No Tax The Motley Fool
These 7 U.S. States Have No Tax The Motley Fool from www.fool.com

Overview

Taxes can be a big burden for people, especially if you live in a state that charges high taxes on income. Fortunately, there are seven states across the US that have no state taxes at all. These states are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. Each of these states has its own unique set of tax policies that make it attractive to people who want to keep more of their hard-earned money.

Alaska

Alaska is one of the most popular states for those who want to live without state income tax. The state does not impose any taxes on income, dividends, or other earnings. Instead, Alaska relies on revenue from oil and other natural resources, as well as levying taxes on tourism, alcohol, and cigarettes. Alaska also has some of the lowest taxes on property and sales, making it an attractive place to live for those who want to save money.

Florida

Florida is another great state for those who want to avoid state taxes on their income. The state does not have an income tax and instead relies on sales taxes and other taxes to generate revenue. Florida is a popular destination for retirees since it does not have an estate tax or inheritance tax. It also has a low property tax rate and does not charge any taxes on Social Security income.

Nevada

Nevada is the third state on our list of states with no state income tax. The state does not levy any taxes on income, dividends, or other earnings. Instead, Nevada relies on sales taxes and other taxes to generate revenue. Nevada has a low property tax rate and does not charge any taxes on Social Security income, making it an attractive option for those looking to keep more of their hard-earned money.

South Dakota

South Dakota is the fourth state on our list of states with no state income tax. The state does not levy any taxes on income, dividends, or other earnings. Instead, South Dakota relies on sales taxes and other taxes to generate revenue. South Dakota has a low property tax rate and does not charge any taxes on Social Security income, making it an attractive option for those looking to keep more of their hard-earned money.

Texas

Texas is the fifth state on our list of states with no state income tax. The state does not levy any taxes on income, dividends, or other earnings. Instead, Texas relies on sales taxes and other taxes to generate revenue. Texas has a low property tax rate and does not charge any taxes on Social Security income, making it an attractive option for those looking to keep more of their hard-earned money.

Washington

Washington is the sixth state on our list of states with no state income tax. The state does not levy any taxes on income, dividends, or other earnings. Instead, Washington relies on sales taxes and other taxes to generate revenue. Washington has a low property tax rate and does not charge any taxes on Social Security income, making it an attractive option for those looking to keep more of their hard-earned money.

Wyoming

Wyoming is the seventh and final state on our list of states with no state income tax. The state does not levy any taxes on income, dividends, or other earnings. Instead, Wyoming relies on sales taxes and other taxes to generate revenue. Wyoming has a low property tax rate and does not charge any taxes on Social Security income, making it an attractive option for those looking to keep more of their hard-earned money.

Conclusion

As you can see, there are seven states across the US that have no state taxes at all. These states are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. Each of these states has its own unique set of tax policies that make it attractive to people who want to keep more of their hard-earned money, and all of these states are great places to consider if you are looking for a place to live without state income tax.


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