States with no income tax

renferme · 03-09-2007, 04:08 PM

I believe there are about 9 states with no state income tax.
Tenn., Fl, NV are no tax states.
But, several weeks ago, Larry Kudlow reported that about 6 more states
are considering eliminating their state income tax.
South Carolina was one of them, and if I remember correctly Ga. was another.
Does anyone remember the other states and does anyone know if
this will, indeed, happen ?

.

mickeyd · 03-09-2007, 04:09 PM

Add Texas to your list. No income tax, not considering it.

TromboneAl · 03-09-2007, 04:15 PM

For the states that are eliminating it -- are they replacing it with some other tax, or what?

lazygood4nothinbum · 03-09-2007, 04:29 PM

no talk of adding income tax to florida but now legislators are trying to get property taxes under control. under consideration is reducing prop taxes by 20-30% & increasing sales tax by 2 cents which i think would tie us with louisiana as having the highest sales tax rate in the country at 8%.

i better buy the new car before that kicks in.

magellan_nh · 03-09-2007, 04:39 PM

NH has no regular income tax, but they do tax dividends and interest at 5% after a $5k exemption.

On the other hand, property taxes are pretty high compared to some places. Expect to pay around $25-30 per $1000 of property value.

Empty Pockets · 03-09-2007, 04:42 PM

South Dakota has no state income tax, 32 miles from where I sit.

I send the State of MN about 8% for the priviledge of living here instead.

I'd love to move the state line East about 40 miles.

John Tuttle · 03-09-2007, 04:50 PM

No income tax in Washington.

Outtahere · 03-09-2007, 05:15 PM

Quote:

Originally Posted by magellan

NH has no regular income tax, but they do tax dividends and interest at 5% after a $5k exemption.

On the other hand, property taxes are pretty high compared to some places. Expect to pay around $25-30 per $1000 of property value.

That's true, lot's of MA residents move to NH expecting to save money, then the prop tax hits AND most of them work in MA so they have to pay MA state tax.

2B · 03-09-2007, 05:29 PM

Texas has no income tax but property taxes are horrible -- essentially equal to the typical mid-west income tax/property tax combo. My FIRE plan is to maintain a Texas address without property and "travel" which would avoid both taxes.

Moemg · 03-09-2007, 05:31 PM

Florida ,No income tax and maybe no property taxes in the future !

73ss454 · 03-09-2007, 05:50 PM

Quote:

Originally Posted by Moemg

Florida ,No income tax and maybe no property taxes in the future !

I hope your right. This is one screwed up state when it comes to property taxes. I have the same house as my neighbor except he has a pool. His taxes are $3800 and mine are 8K. He was here 3 years earlier and the homestead exemption saved him. This is why more people are leaving than coming to Florida.

jazz4cash · 03-09-2007, 05:57 PM

Quote:

Originally Posted by Moemg

Florida ,No income tax and maybe no property taxes in the future !

Hang on 73ss454........I think Moemg means FL property values are going down?

73ss454 · 03-09-2007, 06:01 PM

Quote:

Originally Posted by jazz4cash

Hang on 73ss454........I think Moemg means FL property values are going down?

OK That'll help.

jazz4cash · 03-09-2007, 06:02 PM

Quote:

Originally Posted by TromboneAl

For the states that are eliminating it -- are they replacing it with some other tax, or what?

Al!.......you're joking, right? If they dont get it one way, they're gonna get it another. Im interested in finding more states like DE (and maybe GA) that have tax breaks on retirement income..........somebody sent me a nice link I'll post in a bit.

jazz4cash · 03-09-2007, 06:03 PM

Quote:

Originally Posted by 73ss454

OK That'll help.

yeahbut...that's not usually the best way to save on property taxes!

jazz4cash · 03-09-2007, 06:16 PM

http://www.retirementliving.com/RLtaxes.html

............courtesy of Goonie

73ss454 · 03-09-2007, 06:18 PM

Quote:

Originally Posted by jazz4cash

yeahbut...that's not usually the best way to save on property taxes!

May not the best way but may be the only way to lower taxes. I could care less about the property value at this point because I plan to die here some day.

Cut-Throat · 03-09-2007, 07:24 PM

Quote:

Originally Posted by 73ss454

I hope your right. This is one screwed up state when it comes to property taxes. I have the same house as my neighbor except he has a pool. His taxes are $3800 and mine are 8K. He was here 3 years earlier and the homestead exemption saved him. This is why more people are leaving than coming to Florida.

No here is the deal. As soon as the Polar Cap melts Florida will be underwater. No one will live there, hence there won't be any property taxes to collect.

Cut-Throat · 03-09-2007, 07:26 PM

BTW

Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Two others, New Hampshire and Tennessee, tax only dividend and interest income.

haha · 03-09-2007, 07:42 PM

I think Washington is on shaky ground. There is always talk of starting an income tax, and Washington has no revenue cow like oil and gas in Alaska, Texas and Wyoming; or gambling as in Nevada.

If Boeing and or MSFT hit rough times, WA gets an income tax and loses Ha.

Ha

03-09-2007, 04:08 PM	#1
renferme Recycles dryer sheets Join Date: Oct 2003 Posts: 452	States with no income tax I believe there are about 9 states with no state income tax. Tenn., Fl, NV are no tax states. But, several weeks ago, Larry Kudlow reported that about 6 more states are considering eliminating their state income tax. South Carolina was one of them, and if I remember correctly Ga. was another. Does anyone remember the other states and does anyone know if this will, indeed, happen ? .

03-09-2007, 04:09 PM	#2
mickeyd Thinks s/he gets paid by the post Join Date: Apr 2004 Location: South Texas~29N/98W Posts: 2,292	Re: States with no income tax Add Texas to your list. No income tax, not considering it. __________________ Outside of a dog, a book is man's best friend. Inside of a dog, it's too dark to read. Groucho Marx In dire need of: faster horses, younger woman, older whiskey, more money.

03-09-2007, 04:15 PM	#3
TromboneAl Thinks s/he gets paid by the post Join Date: Jun 2006 Posts: 4,168	Re: States with no income tax For the states that are eliminating it -- are they replacing it with some other tax, or what? __________________ - Al -- Always serious, never joking. No, wait. Never serious... Always... I forget.

03-09-2007, 04:29 PM	#4
lazygood4nothinbum Thinks s/he gets paid by the post Join Date: Feb 2006 Posts: 3,789	Re: States with no income tax no talk of adding income tax to florida but now legislators are trying to get property taxes under control. under consideration is reducing prop taxes by 20-30% & increasing sales tax by 2 cents which i think would tie us with louisiana as having the highest sales tax rate in the country at 8%. i better buy the new car before that kicks in. __________________ "off with their heads"~~dr. joseph-ignace guillotin "life should begin with age and its privileges and accumulations, and end with youth and its capacity to splendidly enjoy such advantages."~~mark twain - letter to edward kimmitt 1901

03-09-2007, 04:39 PM	#5
magellan_nh Recycles dryer sheets Join Date: Sep 2006 Posts: 142	Re: States with no income tax NH has no regular income tax, but they do tax dividends and interest at 5% after a $5k exemption. On the other hand, property taxes are pretty high compared to some places. Expect to pay around $25-30 per $1000 of property value.

03-09-2007, 04:42 PM	#6
Empty Pockets Recycles dryer sheets Join Date: Dec 2006 Posts: 149	Re: States with no income tax South Dakota has no state income tax, 32 miles from where I sit. I send the State of MN about 8% for the priviledge of living here instead. I'd love to move the state line East about 40 miles. __________________ "Watch your topknot"

03-09-2007, 04:50 PM	#7
John Tuttle Recycles dryer sheets Join Date: Mar 2006 Posts: 73	Re: States with no income tax No income tax in Washington.

03-09-2007, 05:29 PM	#9
2B Thinks s/he gets paid by the post Join Date: Mar 2006 Location: Houston Posts: 2,273	Re: States with no income tax Texas has no income tax but property taxes are horrible -- essentially equal to the typical mid-west income tax/property tax combo. My FIRE plan is to maintain a Texas address without property and "travel" which would avoid both taxes. __________________ The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane -- Marcus Aurelius

03-09-2007, 05:31 PM	#10
Moemg Thinks s/he gets paid by the post Join Date: Jan 2007 Location: Sarasota,fl. Posts: 3,096	Re: States with no income tax Florida ,No income tax and maybe no property taxes in the future !

03-09-2007, 06:16 PM	#16
jazz4cash Thinks s/he gets paid by the post Join Date: Aug 2004 Location: Laurel, MD Posts: 1,080	Re: States with no income tax http://www.retirementliving.com/RLtaxes.html ............courtesy of Goonie

03-09-2007, 07:26 PM	#19
Cut-Throat Recycles dryer sheets Join Date: Jan 2007 Posts: 366	Re: States with no income tax BTW Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Two others, New Hampshire and Tennessee, tax only dividend and interest income.

03-09-2007, 07:42 PM	#20
haha Give me a museum and I'll fill it. (Picasso) Give me a forum ... Join Date: Apr 2003 Location: Seattle Posts: 8,487	Re: States with no income tax I think Washington is on shaky ground. There is always talk of starting an income tax, and Washington has no revenue cow like oil and gas in Alaska, Texas and Wyoming; or gambling as in Nevada. If Boeing and or MSFT hit rough times, WA gets an income tax and loses Ha. Ha __________________ "Show 'em just enough to win the turkey."- Former KY Governor Bert Combs

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