Top 10 Tax Friendly States


What is going on everyone? Welcome back
to the world according to Briggs did you know that people like to save their
money? And for some reason people like to pay less for things than they normally
would also it’s really strange now if your normal person that’s a no-brainer
if you’re my wife well the phrase money’s no object comes to mind when it
comes to money the United States has gotten better for the country almost
every quarter since 2010 the economy is looking better for workers these days
too unemployment is low job growth as solid wages are growing this country has
jobs and qualified workers about ten years ago you had to take whatever
employment you could get where a lot of workers these days you have a handful of
companies to choose from sometimes to take a good job you might have to move
to another state now before you accept that job there’s
some things you should check out make sure to check out the cost of living in
your prospective employer city or state look at the cost of housing and you
should do some research on the state and local taxes and how much they plan on
ripping you off for in this video Sukie calculated what it would look like
for a married couple that rakes in about a hundred fifty thousand a year in each
state she gave me about thirteen pages of numbers and I will oversimplify it
and add a few strange comments so if you’re looking for the most tax friendly
state you got to start with number 10 New Hampshire the Granite State comes in
at number 10 for the most tax friendly state in 2018 it’s also a great place to
go if you don’t want to be shot stabbed or robbed they don’t do much of that
there I don’t know why it’s awfully exciting if you ask me
New Hampshire goes very light onion come tax and it only applies it to dividends
and interest income there’s no sales tax in New Hampshire and they go easy on the
gas tax as well it’s only twenty three point eight three cents per gallon local
governments in New Hampshire are going to stick it to you when it comes to
property tax that one gets a little rough now I’ll give you the numbers here
but don’t tell me in the comments section that they’re wrong a year or two
down the road things change these are currently the numbers as of 2018 but
it’s 2019 right now 2018 with the last completed year so here we go state
income tax like I said is 5 percent on interest and dividends only effective
income tax is zero the average state and local sales tax is zero they don’t even
get you when you’re trying to buy stuff you know nothing’s worse and when you go
to buy a bunch of those pudding cups those
snack pack pudding cups and they stick it to you for an extra you know 30 cents
it’s just my problem anyway the average property tax here though is two thousand
two hundred ninety six dollars for a hundred thousand dollar home that’s kind
of harsh number nine Arizona the Grand Canyon
State is a great state for just about anyone that hates high taxes doesn’t
mind extreme heat and doesn’t worry about the potential skin cancer
Arizona’s very tax friendly state with a lot of golf courses so it’s obviously
very popular with the retirement crowd they also have a really good early bird
special program too that really speaks their interest for 2019 Arizona’s top
income tax rate of 4.5% doesn’t kick in till your taxable income exceeds 159
thousand dollars for a single filer and three hundred eighteen thousand for
married couple filing jointly now the statewide average property tax isn’t
terrible either for a house that’s four hundred thousand dollars it’s only three
thousand fourteen dollars per year which is below the average of the US they also
only get you 19 cents per gallon of gas on their gas tax which is good like most
states the Grand Canyon state excludes prescription drugs and food from the
sales tax but some counties do have their own grocery tax they sort of stick
it to you on the sales tax the average combined state and local sales tax is
the 11th highest in the US and car owners pay an annual vehicle tax which
sucks so here it is in a nutshell the effective income tax rate on average is
two point seven seven percent for single filers and three point two percent for
joint filers the average state and local tax the average is eight point three
nine percent in the average property tax is seven hundred and fifty four dollars
per 100,000 dollars of the home value and like I said earlier nineteen cents
per gallon of gas tax number eight North Dakota North Dakota has become a great
place to relocate to in the last decade or so the cost living is very low in
housing prices are even lower the Roughrider state which is one of its
nicknames its income tax rate is strangely low even for the top earners
so for all you tech tycoons maybe the peace and garden state is for you and
yes that’s another one of its nicknames you may freeze to death during the
winter but that’s a small price to pay for low taxes property taxes in North
Dakota is where they make their money it’s just above the national average the
tax on a four hundred thousand dollar home owned by the hypothetical couple
is estimated to be about 4223 per year still less than I’m paying here in
Oregon at 23 cents per gallon gas tax in North Dakota is also well below the
national average of 31 point 7 per a line of gas now here it is the state
income tax is 1 point 1 percent for income of 39 thousand dollars or less
for single filers 65 for families or people filing jointly two point nine
percent on taxable income over four hundred and thirty three thousand
dollars a year so two point nine is really nothing I mean zero is great but
two point nine is really low the average state and local sales tax is six point
eight five percent and where you compare to California and I think last time I
checked they were like God I don’t know seven point two five percent then you
add in all the county and city taxes and it gets up there but yes six point eight
five is not terrible the average property tax is one thousand fifty six
dollars for every hundred thousand dollars of a home value I’m like I said
23 cents per gallon of gas tax number seven South Dakota just like North
Dakota it can get a little brisk in South Dakota and that is a serious
understatement the Mount Rushmore state is and what I refer to as America’s
icebox with North Dakota Minnesota and Wisconsin so it gets cold if you could
take the cold and a fair amount of boredom you can take South Dakota it’s
really nice state and they do go easy on the taxes South Dakota’s combined state
and local sales tax are about average for the US however their prescription
drugs are exempt from all taxes gas tax is average so that’s good property taxes
in South Dakota is a little above average but no big deal for a four
hundred thousand dollar house you’re gonna pay about five thousand five
hundred fifty one dollars a year in taxes so it’s not gonna kill you the way
they get on this list is they have zero income tax and when I say zero I mean
zero income tax South Dakota doesn’t have an estate or inheritance tax either
so when someone croaks you get all the cash and I mean croak in the nicest way
possible you know very positive way of croaking please no more email saying I
say mean things it’s getting old anyway like I said zero income tax their sales
tax is about six point four average and their property tax is thirteen hundred
and eighty eight dollars for every hundred thousand dollars of the home so
that’s not terrible number six Alaska if you like it wild
and you don’t mind dodging moose on the interstate think about Alaska
that’s a real problem moose on the highway and subsequently moose on the
bumper and possibly if you’re going fast enough moose on the windshield and your
luggage rack and it requires a hose moving on gas tax in the last frontier
are the lowest in the US and Alaskans pay no state income tax or state sales
tax now local you know municipalities and stuff and add their own sales tax if
they want the average sales tax that they’ve put on there’s about 1.5 percent
not a lot Alaska’s largest city has no sales tax and as far as property tax
goes if you purchase a home for 400,000 in Alaska your estimated property tax
bill would come to about four thousand nine hundred and thirty six that’s a tad
above the national average but all the other things are pretty low they also
have some funky laws that let you pay a reduced property tax if your house is
under construction so this is the hustle you’ll drive down the highway and you
see all kinds of roads with that Tyvek siding white stuff on the side of their
house and then they can say it’s under construction I’m not sure how many years
I heard a couple different things that it could be like two years in a row and
I’ve heard it could be as many as five years so people just leave that Tyvek on
there until they pull the reduced tax thing on them and then they you know
finish their house finally like I said the income tax is zero the sales tax is
one point five maybe maybe zero in some places the gas tax is fourteen point six
six cents per gallon so Alaska’s really light on the taxes number five
Washington state Washington is a little bipolar when it comes to taxes and I
mean bipolar in the nicest way possible they are really easy on the taxes and
then they go a little crazy with the taxes but in the end it isn’t that bad
what gets them this high on the list as residents here make far more money on
average than other residents of states with no income tax the average combined
state and local sales tax rate in Washington is the third highest in the
country so that’s bad and their gasoline tax is the fourth highest in the country
property tax in Washington is more modest for a four hundred thousand
dollar home you’re probably looking at about four thousand four hundred ninety
nine per year which is close to the national average it’s that no state
income tax that makes this place great when I worked at Comcast I would have
been saving somewhere $750 a month if I just would have gone
across the bridge and lived in Washington State I could have still kept
my job at Comcast I mean it would add an extra 20 30 minutes to my commute a day
but I would have been saving $750 a month it just didn’t seem worth it at
the time like I said state income tax is zero
state effective income tax is zero the average state local sales tax is about
nine point two one percent so that’s kind of high the average property tax
you’ll be paying about eleven hundred and twenty-five dollars per hundred
thousand on the home and the gas tax is forty nine cents per gallon that’s kind
of harsh but still that no income tax is great in Washington
number four Florida Florida is a popular state for retirees for a few different
reasons the weather the beaches the taxes and the over 50 retirement
community filled with swingers I’m not kidding it’s called the village and
they’re retired and they’re swingers you know it’s pretty sad when your
grandparents are partying harder than you Florida has no income tax which
keeps the overall state and local tax burden down the Sunshine State is
average or above average when it comes to all the other taxes they don’t have
an estate or inheritance tax so that’s good property taxes are
middle-of-the-road right around the national average a four
hundred thousand dollar home in Florida on average annual property tax bills
gonna be about forty one hundred dollars a year the gas tax in Florida is high
forty one cents per gallon that’s the tenth highest in the nation but no
income tax and wild seniors it’s a win like I said no income tax the average
state and local sales tax is seven point zero five percent the average property
tax is 1041 dollars for every hundred thousand dollars on the home and yeah
Florida the Sunshine State number three Tennessee the Volunteer
State would probably be one of the top five states in the Union if they could
just convince Arkansas into taking most of Memphis away take it off our hands
it’s all yours they could promise to send them some dentists or safety
instructions for deep-frying Thanksgiving turkey that’ll save a lot
of lives in Arkansas there’s no broad-based income tax in the Volunteer
State only interest in dividends are subject to Tennessee’s limited income
tax they do have some small taxes on the dividends but they’re waived if you’re
over a hundred years old I’m not kidding they’re waiving taxes
for anyone over a hundred years old how did they get that law in place
I get the feeling some politician did that during an election year so they
could claim that they lowered taxes yeah great job guys great job
you lowered the taxes for 14 people in the entire state the good news is the
dividend tax is being phased out at 1% a year and it’ll be completely gone by
2021 property tax in Tennessee isn’t bad expect to pay about three thousand and
seventy two dollars per year for a four hundred thousand dollar home which is
well below the national average gasoline tax is below average as well it’s about
twenty seven point four cents per gallon Tennessee does kind of get you with the
sales tax at nine point five percent but everything else is great number two
Nevada now I love Nevada well really I love the people of Nevada they help get
this channel going I made a negative video about Las Vegas two or three years
ago and these people lost their frickin mind in the comments section which
helped the stats then they shared it so much the stats went through the roof so
thank you I hated having a nine-to-five job the Silver State is Nevada’s
nickname and it’s another no income tax haven no income tax which is always good
and in case anyone wants to explain to me that that’s not the nickname please
google it before you leave your comment I had a guy tell me that I was an idiot
because the name Sin City applies to the whole state does not it just applies to
Las Vegas the property taxes in Nevada are below average too estimated to be
two thousand seven hundred and seventy one dollars on average for a four
hundred thousand dollar home Nevada receives more than 1.5 billion in taxes
and fees annually from the hotel casino industry but they still kind of stick it
to the residents with the sales tax state and local they kind of get you
there but it’s still not the worst condition the sales tax they got some
small fees for vehicles and things like that and their gas tax is slightly above
the national average at thirty one point seven cents per gallon but again no
state income tax is phenomenal and number one Wyoming why all mean is
cowboy country there are a lot of residents here that would be perfectly
fine with getting rid of cars entirely and just riding horses the state’s
nickname is the quality state which is the official name but most people know
it as the cowboy state why Wyoming takes the top spot it’s because of the ample
revenue from the mineral and energy extractions that continue to flow
through the state this makes it much easier on the residents when it comes to
tax burden they’re getting their money elsewhere
they don’t need to Jack Mon pot kettle there is no income tax in Wyoming zero
zilch nada nothing you keep what you make as far as the state’s concerned the
IRS on the other hand is a little more hard-nosed when it comes to income tax
the state sales tax rate is also the third lowest in the country for states
with sales tax and there’s only two cents per gallon when it comes to gas
and at two cents a gallon Wyoming has the lowest beer tax in the country alright so that is my top 10 most
friendly tax states hope you guys got some information out of this one this is
one that’s been requested over and over and over I hope I gave you the
information you’re looking for anyway don’t forget all the links below give
the video big thumbs up tell me what you thought please subscribe if you already
haven’t everybody have a great day be nice to each other you

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