These 9 States Have No Income Tax -- but Is Living There Really Cheaper?

These 9 States Have No Income Tax -- but Is Living There Really Cheaper?
The premise seems brilliant enough on the surface -- avoid state taxes to keep more of your hard-earned income. Moving to one of the nine states that don't impose income taxes on any of its residents solves the problem. The actual matter's far from this simple, however. The cost of living is at least a little different (if not a lot different) in each and every state. It's conceivable that you could end up enjoying less disposable income by living in a no-tax state. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue " Let's put the premise to the test for each end every state in question. No-income-tax states First things first. Which states don't charge any personal income tax (which doesn't impact your federal income taxes, by the way)? There are nine of them: * Alaska * Florida * Nevada * New Hampshire * South Dakota * Tennessee * Texas * Washington * Wyoming These states are able to generate enough revenue through other means, like taxes on business income or sales taxes. Also note that in New Hampshire, Tennessee, and Washington, there may be some taxation of certain investment...

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