Monday, March 31, 2014
No one likes to pay income taxes. That's not a problem, at least at the state level, for residents of seven states that have no state income tax. Two others don't tax wage income.
The Last Frontier doesn't have a state sales tax, either. Alaska depends primarily on petroleum revenue to pay for its state operations.
See a quick snapshot of Alaska's tax rates.
In the absence of an income tax, the Sunshine State relies on sales taxes. Local government costs are covered by property taxes.
See a quick snapshot of Florida's tax rates.
The Silver State's treasury is boosted by taxes paid by gambling operations in the state. Nevada Gaming Control Board data show that through Aug. 19, 2013, the state had collected more than $892 million in gaming taxes and fees.
See a quick snapshot of Nevada's tax rates.
To cover costs not paid for by an income tax, South Dakota's Department of Revenue Special Tax Division collects a variety of state taxes, including cigarette excise, bank franchise and alcoholic beverage taxes, and even a coin operated Laundromat license fee.
See a quick snapshot of South Dakota's tax rates.
The Lone Star State depends on a state sales tax, with local jurisdictions collecting additional sales tax amounts and property taxes to help pay government bills.
See a quick snapshot of Texas' tax rates.
The Evergreen State remains in the no-income-tax fold thanks to its voters' rejection in November 2010 of a proposed income tax on Washington's wealthiest residents.
See a quick snapshot of Washington's tax rates.
Worst States for Taxes
In addition to no personal state income tax, the Cowboy State also forgoes a corporate income tax.
See a quick snapshot of Wyoming's tax rates.
The Granite State doesn't tax wage income, but it does collect taxes on residents' dividend and interest income.
See a quick snapshot of New Hampshire's tax rates.
Volunteer State residents don't have to file a return to pay taxes on wages, but Tennessee does tax their dividend and interest income.
See a quick snapshot of Tennessee's tax rates.
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Posted by John MacHaffie at 5:11:00 PM