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If you're a business owner or remote freelancer, it may net you more money to be headquartered in a no-income-tax state (e.g. Texas, Florida, Nevada, Washington
by billpaetzke 16y ago
If you're a business owner or remote freelancer, it may net you more money to be headquartered in a no-income-tax state (e.g. Texas, Florida, Nevada, Washington). This is assuming you're charging similar prices as your competitors based in SF/SV or NYC.
If you're a single employee, your best bet is to live somewhere with high salaries (California or New York) and be frugal with your expenses.
If you're an employee that's married and/or have kids, I don't know. I don't have that experience yet. Best to ask someone who does.
--> BUT income tax is just one of many state taxes. For an aggregate tax %, see The Tax Foundation's report on State "Tax Burdens." Scroll down in the doc to 2008. http://www.taxfoundation.org/taxdata/show/336.html http://www.taxfoundation.org/taxdata/show/336.html
Here's some of the state tax burdens:
* Nevada: 6.6%
* Florida: 7.4%
* Texas: 8.4%
* Washington: 8.9%
* Oregon: 9.4%
* Massachusetts: 9.5%
* California: 10.5%
* New York: 11.7%