The Least & Most Tax Friendly States

Discussion in 'Politics & Government' started by Ken Anderson, Nov 15, 2018.

  1. Ken Anderson

    Ken Anderson Senior Staff
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    -- Yahoo Business

    tax-friendly-states.png
     
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  2. Beatrice Taylor

    Beatrice Taylor Veteran Member
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    New York is not as scary as it sounds if you are an average senior.

    Last year my state income tax was $113.00.

    The sales tax in my area is 8% but there is no tax on food items and I don't buy much stuff anymore.

    They have the STAR program that subsidizes property tax for seniors making less than $86,000.00.

    They also exempt the first $20,000.00 of a taxable annuity/pension from state income tax.
     
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  3. Don Alaska

    Don Alaska Supreme Member
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    The chart has Alaska as having a sales tax, but there is no state sales tax. Localities DO, however, have sales taxes if you live in many towns. Anchorage does not have a regular sales tax, but they do have an extra tax on gasoline, rental cars and hotels, and they want a 5% tax on alcohol. Marijuana also has a tax in Anchorage, but I have no idea how much. We have no state income tax, and we get $186,000 off the value of our property for tax purposes as seniors, and I get 1 tax-free vehicle. Cost of living is high here, but the taxes definitely are not. If you add in the $1000+ rebate from the state for every man, woman and child resident...what can I say?
     
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  4. Ken Anderson

    Ken Anderson Senior Staff
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    One good thing about being an average senior is that taxes are less scary. We don't pay a lot of taxes here in Maine either but it would be another matter if I were in my top earning years, and even more so if I were to open a business here in Maine.
     
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  5. Ken Anderson

    Ken Anderson Senior Staff
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    I don't know the specifics but they may have included that in their considerations. Or perhaps the use tax.
     
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