How to Benefit from No Income Tax States With Geo-Arbitrage
A way to accomplish having a lower tax bill is to live in a state with no income taxes.
Everyone wants to have lower taxes. Taxes are something that people are more than likely to complain about.
Currently, nine states are considered no income tax states.
The great thing about these states having no income tax is that you can earn as much as you want without paying income tax to the state government.
If you are primarily working from home, you can live in a state with no income taxes.
That allows you to save more of your income and put it towards savings or high-yield investments.
Why Move to One of the No Income Tax States?
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.
Does Living in a No Income Tax State Save You Money?
That is true in that assumption. At this point, you need to look into what states will do to generate income.
The state government uses the tax money to fix the roads, fund law enforcement agencies, etc.
The funding for these public services comes from a combination of income tax, sales tax, and property tax.
In no income tax states, the states impose taxes and various things such as higher sales tax or even higher property tax.
It is also the belief that plenty of people coming from out of state can create revenue from higher sales tax.
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