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Thread: state with overall low texes?

  1. #11
    Senior Member luvmylabs23139's Avatar
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    The other thing we will have to factor in before making any move is the increase in federal taxes due to a reduction in deductions.

  2. #12
    Senior Member Buzz's Avatar
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    Here is a table that summarizes all 50 state tax burdens.

    http://www.retirementliving.com/tax_burden_2008.pdf

    Looks like they do it on a taxes paid per capita basis.

    I wonder how long you will have to realize tax savings in order to break even on the cost of your move...

    Something to think about.
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  3. #13

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    Also Need to take into consideration the tax's you actual end up paying in the state. What is shown on the tax tables here and what you actually end up paying after filling out the individual tax forms on a given income can be radically different between states. I original filed in Minnesota years ago. One year I received extra pay and Bonus's that Jumped me way up in State tax's owed. I Was told to fill out the California forms as a State resident. I saved about 2/3's of money that I would have had to send to Minnesota over the next 11 years. And as added bonus saved a Fortune in college tuition. About 14 years ago had to assume South Carolina residency and my tax jumped back up but not as bad as it would have been in Minnesota. I think you might get the picture, The charts only indicate an amount to pay on a specified quantity. That specified quantity is arrived at very differently in each state for the same income.

    PS: go to Best small towns to live in 2009
    MONEY MAGAZINE this might help, 100 top towns

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    Last edited by ALPHA-OMEGA; 09-22-2009 at 08:44 PM. Reason: ps added

  4. #14
    Senior Member luvmylabs23139's Avatar
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    I was a payroll mgr for years doing muti state payroll and handled relocations for execs.
    The state income part is easy to compare.

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