Here’s a look at the lowest tax states in America:
1. Alaska
Alaska is the least populated state in the US – with only 663,478 people as of 2012. It’s also the sixth-largest state. Yet Alaska has held onto its title as the No. 1 state for lowest taxes since 2007. According to WalletHub’s report, Alaska has no state individual income tax, sales tax, or corporate income tax. Alaska does have a state property tax, and you’ll find it’s only about 0.4%. The unemployment rate is also well below average at 7.4%, tied for 12th lowest in America.
2. Florida
Florida has the second-lowest state personal income tax in the country. Property taxes are the state government’s primary income source. At 2.8%, Florida is tied for the second-highest property tax rate among states with a population over 1 million. And according to WalletHub, it’s the sixth-best state with a low unemployment rate of 7.3%.
3. South Dakota
South Dakota is one of the least taxed states in America. It has a property tax rate of 2.4%, the second-lowest corporate income tax at 1.3%, and a low unemployment rate of only 5.8%.
4. New Hampshire
New Hampshire is one of the states with no state income tax, no sales tax, or corporate income tax. It also has a low unemployment rate of 6.9%. In terms of crime rates, New Hampshire is comparatively safe.
5. Nevada
Nevada ranks fifth for lowest taxation, with no individual income tax and a corporate tax level below average. The state’s unemployment rate is only 7%, among the lowest of all states in America. And according to WalletHub’s report, Nevada has a property tax of 2.4%. ..
6. Tennessee
Tennessee has a low sales tax rate of 7%, one of the lowest unemployment rates in America, and a low corporate tax rate. The state is also rated as having high property crime rates.
7. Texas
Texas has low taxes and a low unemployment rate.
8. Washington
Washington state has the 8th lowest personal income tax and sales tax in the United States, as well as a corporate income tax of 3%. The unemployment rate in Washington is 7.5%, which is also the 7th lowest rate in America. Washington’s property tax is just 2.9%.
9. New Mexico
New Mexico is a state with low taxes and a strong economy. It has no income taxes and a low property tax. New Mexico is also one of the safest states in America, with low crime rates.
10. Wyoming
Wyoming is one of the least taxed states in the United States. It has no state income tax and a low unemployment rate of only 5.4%. Wyoming also has the third-lowest property tax of all 50 states at 1.9%. WalletHub ranked Wyoming as 8th best in property crimes – meaning slightly above average. Wyoming has a corporate income tax rate of 6%, ranking 18th among all states. ..
Some reasons to consider moving to one of these states are that they have low taxes. Additionally, you should check to see if you could find a job and how much house you could afford while living there. Additionally, you should also look at the crime rates, schools, and medical facilities in each state. ..
