We (NC) Made The Top 10
Posted 03 March 2013 - 07:53 AM
The 10 worst states for taxes
Paying more this year
With the passage of the fiscal cliff deal and the expiration of the payroll tax holiday, most Americans will be paying more taxes this year -- but the hike could hurt more depending on what state you live in.
The Tax Foundation's 2013 State Business Tax Climate report recently ranked the best and worst states for taxes to enable business leaders, policymakers and taxpayers understand how their states measure up. The 10 best include low-population, Western states including Wyoming and South Dakota, as well as a few eastern states like New Hampshire and Florida. And what did they have in common? They had low rates or lacked one of the five major taxes -- individual income, corporate, property, sales or unemployment insurance.
According to the report, the lesson is simple: A state that raises sufficient revenue without one of the major taxes, all things being equal, has an advantage over those states that levy every tax in the book. They'll be more competitive in attracting new business and more effective at generating economic and employment growth, since high taxes are a turn-off for both businesses and individuals.
The 10 worst all levied complex, non-neutral taxes that favor some economic activities over others and have comparatively high individual and corporate tax rates.
"Multiple layers of data (show) that domestic migration occurs consistently away from high tax states," says Mat Franken, founder of ResidencyHQ, a resource for residency information. "Our data points to high-tax states losing residents to low-tax states."
Posted 03 March 2013 - 10:54 AM
Posted 03 March 2013 - 11:13 AM
Posted 03 March 2013 - 11:59 AM
Taxes, when used effectively, can help create an environment conducive to business. We may have relatively higher taxes, but we also have a more educated work force in the triangle area, etc.
Posted 03 March 2013 - 12:06 PM
Posted 03 March 2013 - 08:09 PM
Posted 04 March 2013 - 04:57 PM
Better to not be able to win a spelling bea. Than to fe so fugin stooopid. Hey! you can donate.
After reading that post I am now convinced that we actually need to raise taxes, either for better education or to provide spell checkers for everyone.
Posted 04 March 2013 - 07:43 PM
I know you are but what am I?
That was quite informative.
Posted 04 March 2013 - 08:52 PM
Posted 05 March 2013 - 04:22 AM
Posted 05 March 2013 - 07:10 AM
Posted 05 March 2013 - 08:16 AM
They have tvs in FL...mind you they also have sink holes
I didn't want to reveal it, but you forced my hand. That is it. I have a sinkhole phobia. What good is no state tax if I'm sitting in my ninja turtle onesies in my race car bed and get swallowed up by a sink hole?
In all seriousness, for some reason, it's actually pride about the state that kind of hinders me from moving permanently. I love several cities in our state for various reasons, and growing up, I always wanted to do something of a tremendous magnitude that would make everyone pay attention to us and acknowledge, "He is from NC." It's corny, I know... But, now I hope the same for our children and I feel like if we move completely, that kind of shakes up identifying as a North Carolinian.