Question

If you decide to relocate to a different area (state) what types of taxes might influence...

If you decide to relocate to a different area (state) what types of taxes might influence your decision? Explain why you would consider the taxes you have specified. Explain how the taxes would impact your decision.


Homework Answers

Answer #1

I will consider local sales tax, income tax, tax credits & exemptions when looking for the perfect place to live.

5 states (Alaska, Delaware, Montana, New Hampshire & Oregon) don’t collect sales tax for retail sales & some services. Same way, some of the states (Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming ) dont collect individual income taxes.

As per one of the survey, New Jersey resident pay maximum taxes whereas Alaska residents pay least taxes. So I will be better off living in Alaska as it will result in more money in my hand for expenses/ savings out of same income.

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