State Economies
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States Without Personal Income Tax
Seven states have no state income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Two others, New Hampshire and Tennessee, tax only dividend and interest income.
Since 1990 the nine US states without an income tax have seen twice the rate of job growth and 2.5 times the population growth of the states with the highest income taxes.
Capital, jobs and economic development are migrating from high-tax states to low.
To see how other states compare, check out the Federation of Tax Administrators' listing of individual income tax rates for 2006.
Seven of the 50 states do not have a personal income tax:
- Alaska
- Florida once had tax on "intangible personal property" held on the first day of the year (stocks, bonds, mutual funds, money market funds, etc.) but will be abolished starting in the year 2007.
- Nevada
- South Dakota
- Texas
- Washington
- Wyoming
Two other states, New Hampshire and Tennessee, tax only dividend and interest income.
- Tennessee - does have tax on interest and dividends
- New Hampshire - does have tax on interest and dividends
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50 State Resource Guide
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Everyone needs a little help, advice, or inspiration now and again. Find state colleges, universities, headline news, newspapers, debt consolidation, financial offerings, radios and TV stations, traffic reports, and state symbols: animals, birds, flags, flowers, seals,
and more as well as quick links to social, demographic, and economic statistics. |
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