If you’re looking for a place to relocate to in the United States, you may want to consider one of the eight states that do not have income taxes. While many states impose a personal income tax, these eight states do not, meaning more of your income stays in your pocket. Read on to learn more about these tax-free states. If you are looking to sell your property go to landforcashmoney.com
1. Alaska – Alaska does not have an income tax. It does, however, have an oil production tax and high property taxes.Since 1976, Alaska has paid its residents to live there via its Permanent Fund Dividend. The payouts are funded by Alaska’s oil royalties and are divided up evenly among citizens
2. Florida Florida is one of the most popular states to live in, and its lack of an income tax is one reason why. It has no state sales tax, no personal property tax, and no corporate income tax. This means that a majority of Floridians pay no income tax at all.
3. Nevada – Nevada does not have an income tax, but it does have a sales tax. Nevada also has one of the 10 lowest real estate tax rates in the nation.
4. South Dakota – South Dakota does not have an income tax and has no corporate or personal income tax. The State has seen a surge in job opportunities as well as an affordable cost of living and low housing and property crime rates, making it an attractive destination for millennials.
5. Texas – Texas also does not have an income tax, but it does have a state sales tax. One of the draw backs though is that residents pay high property taxes.
6. Washington – Washington does not have an income tax. It does, however, have a business and occupation tax. But the price for a home is very high compared to the rest of the county.
7. Wyoming – Wyoming does not have an income tax, but it does have a high property tax.Also, no state tax on retirement income, zero corporate state income tax, no gross receipts tax on businesses
8. New Hampshire New Hampshire does not have an income tax, but it does have a sales tax.
9. Tennessee does not have an income tax, but it does have a state sales tax. It has high property taxes, too.