(News Nation) – You may be shocked to see how much money is being taken away by the state income tax when you file a 2024 return. Nine states do not have state income taxes. Which of them?
What if I can’t afford to pay taxes?
Here is a list of states that do not have income taxes for the state:
Alaska Florida New Hampshire Nevada South Dakota Tennessee Texas Washington Wyoming
New Hampshire makes a list, but it differs slightly from the others on the list in terms of interest and dividend income for granite.
Tax credits worth up to $7,830 are often not charged
These states don’t remove taxes from their earned income, but that doesn’t mean that they have a low cost of living. In fact, states can compensate for NO income taxes in other ways, such as higher sales taxes. Tennessee (9.56%) and Washington (9.43%) have the second and fourth highest state and local sales tax rates, according to the Tax Foundation.
One bonus for taxpayers in most states that have no income tax is that they do not have to file a return in that state. The same goes for New Hampshire residents, unless their interest and dividend income exceeds $2,400 ($4,800 if taxpayers jointly filed).
