No Income Tax States: How to Benefit from Geo-Arbitrage
Taxes are something that people are more than likely to complain about, and they see them as the way the government takes away from their hard-earned money.
A way to accomplish having a lower tax bill is to live in a state with no income taxes. As of 2021, nine states are considered no income tax states.
– Alaska – Florida – Nevada – New Hampshire – South Dakota – Tennessee – Texa – Washington – Wyoming
States With No Income Tax
You do not need to pay income taxes on your income, which means you can keep more of your money and use the savings to invest the money.
Why Move to One of the No Income Tax States?
The perception is that the less income tax you pay, the more you can save. That is true in that assumption.
Does Living in a No Income Tax State Save You Money?
Four of the top ten states with the most substantial economic projections are those states that do not have an income tax.
Are States With No Income Tax Outperforming the Other State?
The tax rates levied on your income can affect how you think about where you want to live, and you will need to determine your situation.
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