Friday, October 16, 2009
Top 5 Tax Havens In USA
Why pay your hard earned money to your government when you don't have to. In different states in US there are different taxes which you pay. Why pay more, when you can pay less? I made list of top 5 tax havens in USA.
1. South Dakota
What exactly makes this state a tax heaven? There is no personal or corporate income tax here. Anything you gain in sales and profit you keep for yourself. They have a modest sales tax - statewide is 4%, but from place to place it goes up to 6%. These low taxes helps this state to make bigger economy and business growth.
2. Texas
There is no personal or corporate income tax here too. Constitution of Texas forbids an income tax. In the 1980s Texas economy was dependent on big oil companies. After oil companies bust, Texas government decided to encourage business by cancelling their taxes.
3. Montana
No sales tax here. Corporate income and property taxes are pretty low here.
4. Tennessee
A nise tax heaven with no personal income tax on wages and salaries.
6.5% corporate income on small businesses
7% state sales tax
5. Utah
Unlike other states which I was writing above, Utah has all taxes. But, the good thing is that all taxes in Utah are lot smaller then everywhere.
flat personal income tax rate of 5%
flat corporate income tax is 5%
Sales tax revenue is this state's biggest part of total revenue.
1. South Dakota
What exactly makes this state a tax heaven? There is no personal or corporate income tax here. Anything you gain in sales and profit you keep for yourself. They have a modest sales tax - statewide is 4%, but from place to place it goes up to 6%. These low taxes helps this state to make bigger economy and business growth.
2. Texas
There is no personal or corporate income tax here too. Constitution of Texas forbids an income tax. In the 1980s Texas economy was dependent on big oil companies. After oil companies bust, Texas government decided to encourage business by cancelling their taxes.3. Montana
No sales tax here. Corporate income and property taxes are pretty low here.
4. Tennessee
A nise tax heaven with no personal income tax on wages and salaries.
6.5% corporate income on small businesses
7% state sales tax
5. Utah
Unlike other states which I was writing above, Utah has all taxes. But, the good thing is that all taxes in Utah are lot smaller then everywhere.
flat personal income tax rate of 5%
flat corporate income tax is 5%
Sales tax revenue is this state's biggest part of total revenue.
Hello and welcome!
Firstly I want to say hello and welcome to all of my visitors! Every beginning is hard, so it's really complicated to write my first blog post here. But with the second one there will be much less trouble. So, once again, welcome to my blog, one of many in zzz Blogs Network, enjoy!
Wednesday, September 23, 2009
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