Personal Finance: States With No Sales Tax, No Social Security Tax.

Posted by Jiltin     Tags: , 3 May, 2009    2,368 views    (3) Comment

No Sales Tax: All states except Alaska, Delaware, Montana, New Hampshire and Oregon, collect sales taxes. Some have a single rate throughout the state though most permit local city and county additions to the base tax rate. Those states with a single rate include Connecticut, Hawaii, Indiana, Kentucky, Maine, Maryland, Massachusetts, Michigan, Mississippi, New Jersey, Rhode Island, Vermont, Virginia, and West Virginia. States with the highest sales tax (when you include weighted averages Read Full Article (Click here)...

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Personal Finance: States with No Income Tax! Other State Tax Rates 2008.

Posted by Jiltin     Tags: 3 May, 2009    740 views    (0) Comment

The only states that do not collect individual income tax are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. Florida taxed intangible personal property each year but that tax is repealed as of 1/1/2007. If you live in one of these non-income tax states, you might wonder if this affects your federal tax return. Since state income taxes are a deduction on the federal Schedule A (Itemized Deductions), the total of your itemized deductions may not be as large as the Read Full Article (Click here)...

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Planning to move around the states – Review ahead the taxes (USA)

Posted by Jiltin     Tags: , 9 April, 2009    1,584 views    (8) Comment

If you plan to move to another state, examine the tax burden you’ll face when you arrive. State taxes are increasingly important to everyone, but you have extra cause for concern since their income may be fixed. Many people planning to save use the presence or absence of a state income tax as a litmus test for a better destination. This is a serious miscalculation since higher sales and property taxes can more than offset the lack of a state income tax. The lack of a state income tax Read Full Article (Click here)...

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States With High Taxes – Where Americans Are Taxed Most?

Posted by Jiltin     Tags: , 9 April, 2009    467 views    (0) Comment

Take Vermont. It levies the nation’s largest tax burden on individuals. Ask anyone living there if the green mountains, popular ski slopes and quaint bed and breakfasts are enough to soften the blow of $3,861 per person kicked up annually to the state government. You’ll likely get a lot of “nos.” Some states are heavy on state income tax, others on property tax and others still on sales tax. Vermont doesn’t mess around: sales, property and personal income taxes Read Full Article (Click here)...

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