The lowest state taxes
as a percent of income
The lowest state taxes as a percent of income, when all local and state taxes are added in range from 6.4% in Alaska to 11.8% for New Jersey, the other 48 are somewhere in between. A percent or 2 may or may not be a big deal...your choice of a place to retire will probably be based upon other factors, like where is the nearest grandchild, beach or favorite golf course. Frugal retirement living will show you how to take advantage of some options you may not have considered for living cheaply wherever you choose to retire. If taxes are going to be a driver in location to retire the most important will probably be income taxes or state sales taxes.
The 10 states with the lowest overall taxes For 2008 the here is the list of states with taxes as a percentage of income. - Alaska 6.4%
- Nevada 6.6%
- Wyoming 7.0%
- Florida 7.4%
- New Hampshire 7.6%
- South Dakota 7.9%
- Tennessee 8.3%
- Texas 8.4%
- Louisiana 8.4%
- Arizona 8.5%
The source of this information is taxfoundation.org. Note that 6 of the 7 states that do not tax personal income are in the top 10 of the list of lowest state taxes overall.
Conclusion This is reported for your information...if you can use it fine. If other things are just as important to you we will examine those as well. Like climate and recreational activities.
To return from lowest state taxes to frugal retirement living
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