Tuesday, May 5, 2009

Moving to Save Money?


Nevada does not charge income tax. Did you know Nevada has a Constitutional ban against income tax?

From the State of Nevada website

Article 10.1.9.  No income tax shall be levied upon the wages or personal income of natural persons.
The State of Nevada also has a great PDF document summing up this info.....

Nevada Department of Taxation
January 26, 2009
No Nevada Income Tax
The Nevada Department of Taxation receives an enormous number of inquiries regarding issues relating to Federal Income tax. The State of Nevada does not participate in the administration of Federal Income Tax nor does it levy a State personal, business or corporate income tax. The Nevada Department of Taxation does not require informational copies of Nevada residents’ Federal Income Tax forms. Federal Income Tax inquiries should be directed to the official IRS website at www.irs.gov.

That is the entire document. If you don't believe it, you can read it here
Short, sweet and to the point. Yep, thats definitely Nevada for you!

Tax Burden for Nevada is ranked 49th with a low 6.6%, only beat by Alaska
The national average is 9.7% This information is based off of how much taxes do residents pay in their own state and excludes tourist tax revenue from residents of other states. This is not based on tax collection but strictly tax burden to live in that state. 
California is ranked 6th at 10.5%, New Jersey is ranked 1st at 11.8%
And Nevada ranks 7th for highest Income Per Capita at $49,371

Our tourism keeps us affordable and desirable!

Taxes are important considerations when looking to make a move. For your business, for your family, Nevada is an affordable place to be.

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