Ed Zollars, CPA wrote:
- quote -

I don't practice nor do AZ tax returns. I wasn't aware that
there were limits on the amount that could be excluded -
just that there was an exclusion based on the retirement
classification of the income.

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rick++ wrote:

- quote -

And then there are some states with high individual income
taxes, high sales taxes and high real property taxes. Then
comes the relative cost of living and the availability of
work and at what salary There are no simple answers to
complex questions.

--
Frederick E. Jorden http://Tax-Accounting-Payroll.com
7825 Midlothian Tpk - 207 Richmond, VA 23235-5247 EMAIL knowtax[at]bigfoot.com
(804) 320-6210 FAX (804) 320-6211

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rick303[at]hotmail.com (rick++) writes:

- quote -

You also have to be careful about the definition of "income
tax" in a given state. New Hampshire is often said to have
no income tax, yet it taxes a number of things that many
would consider income: rent, royalties, interest, dividends
(including federally tax-free S corp distributions), and, of
course, business profit. As far as I could tell, the only
income that is truly not taxed in New Hampshire is capital
gain. Wages are not taxed to the recipient, but the
employer pays a business enterprise tax on them. If you are
self-employed you have to pay some combination of the
business profits tax and the business enterprise tax on your
net. Since the business enterprise tax rate is (at least
was when I was looking into this) far lower than the
business profits tax rate there is some unfortunate
ambiguity in deciding which to apply beyond a certain
statutory allowance for (what amounts to) your salary.

Dan Lanciani
ddl[at]danlan.*com

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D. Stussy wrote:

- quote -

That would be news to the Arizona legislature and Arizona
Department of Revenue.

ARS §43-1022(2) provides only the following very limited
subtraction for certain pension income:

"2. Benefits, annuities and pensions in an amount totaling
not more than two thousand five hundred dollars received
from one or more of the following:

(a) The United States government service retirement
and disability fund, retired or retainer pay of the
uniformed services of the United States, the United States
foreign service retirement and disability system and any
other retirement system or plan established by federal law.

(b) The Arizona state retirement system, the
corrections officer retirement plan, the public safety
personnel retirement system, the elected officials'
retirement plan, an optional retirement program established
by the Arizona board of regents under section 15-1628 , an
optional retirement program established by a community
college district board under section 15-1451 or a retirement
plan established for employees of a county, city or town in
this state. "

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Be careful in evaluating a location on only income taxes.
"No income tax" states sometimes have sales taxes up to 9%
and property taxes up to 4%. In the latter, the tax payment
approaches the amount of the mortgage payment.

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"network lines" <datalines[at]excite.com> wrote:

- quote -


Here is the website which lists the tax rates of each of the
states:

http://www.taxadmin.org/fta/rate/ind_inc.html

Andy in Fink, Texas

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"network lines" <datalines[at]excite.com> wrote:

- quote -

Look for states that not only have no income tax, but also have no sales
tax, or tax on dividends, etc. depending on what your objective(s) is/are.


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tim[at]timkelly.com (Timothy E. Kelly, Esq.) wrote:
- quote -

New Hampshire only taxes income from stocks and bonds (not
mutual funds or bank accounts).

Tennessee only taxes income from mutual funds, stocks and
bonds (not bank accounts).

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network lines wrote:

- quote -

However, there are some other conditions that should also be
noted:

Arizona: Has an income tax, but does not tax retirement
accounts. Therefore, for those who are retired there, they
may effectively pay little to no state income tax.

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datalines[at]excite.com (network lines) wrote:

- quote -

South Dakota

Timothy E Kelly, Esq.
Certified Specialist, Taxation Law
State Bar of California
Board of Legal Specialization

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What are the US States that don't have any state income tax?
I know one of them is Nevada.

================================================== ===========
Moderator:
We just did this one in the last week or two. For personal
income taxes, I believe it's: Washington, Nevada, Texas,
Tennessee, Florida, New Hampshire, Wyoming, and Alaska.
================================================== ===========

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