In the realm of personal finance, tax strategy can be as competitive as any sport, with some states offering the playing field to prove it. If keeping more of your paycheck sounds appealing, here are the states where tax avoidance is practically a local pastime.
#1. Alaska
The Last Frontier offers no state income tax and no statewide sales tax, plus residents receive annual dividends from the Alaska Permanent Fund.
#2. Florida
Sunshine and savings abound in Florida, where there’s no state income tax, attracting retirees and workers alike who want to keep their earnings intact.
#3. Nevada
What’s earned in Nevada, stays in your pocket—thanks to no state income tax. It’s not just the gambling that draws folks to the Silver State.
#4. South Dakota
Mount Rushmore’s state offers more than just monumental carvings; with no income tax, it’s a haven for those looking to grow their savings.
#5. Texas
The Lone Star State shines for those wanting to escape state income taxes. It’s a big reason many businesses and individuals call Texas home.
#6. Washington
No state income tax means more money to enjoy the lush landscapes of Washington. It’s a top choice for tech professionals and entrepreneurs.
#7. Wyoming
With no state income tax and a low cost of living, Wyoming offers a quiet and financially savvy lifestyle amid stunning natural beauty.
#8. Tennessee
The Volunteer State sings a tune of financial freedom with no wage income tax, though it does tax interest and dividends.
#9. New Hampshire
Live Free or Die isn’t just a motto—it’s a lifestyle in New Hampshire, where there’s no state income tax on earned wages and no sales tax.
#10. Montana
Big Sky Country boasts no sales tax, which makes it an attractive state for both living and shopping, especially for large purchases.
#11. Oregon
While Oregonians pay state income tax, they enjoy zero sales tax, making it a great place for consumers looking to save on purchases.
#12. Delaware
Known for its business-friendly laws, Delaware also offers no sales tax and low property taxes, making it attractive for both corporations and homeowners.
#13. New Mexico
With a low cost of living and generous tax deductions for seniors, New Mexico offers a warm, tax-friendly environment for retirees.
#14. South Carolina
With modest property taxes and no estate tax, plus generous retirement income deductions, South Carolina knows how to court the retiree demographic.
#15. Colorado
Colorado combines a relatively low flat income tax rate with a high quality of life, making it a popular choice for those seeking both outdoor adventure and tax efficiency.
Mastering the Game
Understanding and leveraging state tax policies can significantly impact your financial health. These 15 states offer compelling reasons to consider when thinking about where your money can stretch the furthest. Whether you’re looking to relocate for retirement or for a job, knowing the tax landscape is key to scoring big in the game of personal finance.
Remote No More: 19 Companies Returning to the Office
As the pandemic wanes, companies are recalling remote workers back to the office, sparking debates on fairness, costs, and convenience. However, there are also notable productivity, coworking, and mental health benefits to consider. Feeling the effects of these changes? Remote No More: 19 Companies Returning to the Office
8 Costco Must Buys and 8 to Leave Behind
Ever wandered Costco’s aisles, questioning if that giant jar of pickles is a real bargain? Or debated buying tires where you get your rotisserie chicken? Welcome to the definitive guide to Costco shopping—a journey to save money, prevent regrets, and offer quirky insights into bulk buying. 8 Costco Must Buys and 8 to Leave Behind
23 Reasons Texas Is the Next Big Thing
Texas is becoming a beacon of opportunity, blending cultural heritage with economic growth. From its landscapes to its industries, the Lone Star State offers a dynamic lifestyle. Here are 23 reasons why Texas stands out, attracting entrepreneurs, artists, tech professionals, and families seeking new beginnings. 23 Reasons Texas Is the Next Big Thing
15 Top Sites to Sell Your Unwanted Goods Besides Craigslist
Selling your unwanted items can declutter your space and boost your income. While Craigslist is popular, there are many alternatives with unique features and wider audiences. Explore these 15 Craigslist alternatives for selling everything from furniture to electronics, finding the perfect platform to turn clutter into cash. 15 Top Sites to Sell Your Unwanted Goods Besides Craigslist
Work from Anywhere: 19 Companies Still Supporting Remote Work
Tired of commuting and craving work flexibility? You’re not alone. Many companies now offer remote work, benefiting both employees and employers. Ever wondered how this shift could enhance your work-life balance? Work from Anywhere: 19 Companies Still Supporting Remote Work
The post – 15 States Where Avoiding Taxes Is Practically a Sport – first appeared on Liberty & Wealth.
Featured Image Credit: Shutterstock / LightField Studios.
The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
For transparency, this content was partly developed with AI assistance and carefully curated by an experienced editor to be informative and ensure accuracy.
