Difference between revisions of "Tax haven"
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A '''tax haven''' is a state or foreign government, most often offshore, which allows an individual or [[corporation]] to "hide" money, in a technically legal fashion, from their nationality's tax system and therefore avoid paying taxes on that money. | A '''tax haven''' is a state or foreign government, most often offshore, which allows an individual or [[corporation]] to "hide" money, in a technically legal fashion, from their nationality's tax system and therefore avoid paying taxes on that money. | ||
| − | Also certain states, such as those in the [[American Redoubt]] have no [[sales tax]] ([[Oregon]] and [[Montana]]), or no [[income tax]] ([[ | + | Also certain states, such as those in the [[American Redoubt]] have no [[sales tax]] ([[Oregon]] and [[Montana]]), or no [[income tax]] ([[Alaska]], [[Florida]], [[Nevada]], [[New Hampshire]], [[South Dakota]], [[Tennessee]], [[Texas]], [[Washington]], and [[Wyoming]] – see [[Free State Wyoming]]) or very low [[property tax]] ([[Idaho]]) and are considered to be more "[[free state]]s" for that reason and others such as [[Second Amendment]] [[gun rights]] [[concealed carry]] and [[open carry]] [[freedom]] |
==Taxes and Cost of Living== | ==Taxes and Cost of Living== | ||
| − | Before making a [[strategic relocation]] or "[[vote with your feet]]" move to another state or country, be sure to research the various [[tax rate]]s and the relative [[cost of living]]. These | + | Before making a [[strategic relocation]] or "[[vote with your feet]]" move to another state or country, be sure to research the various [[tax rate]]s and the relative [[cost of living]]. These websites might prove useful: |
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| + | *Overall Tax Burden by State: http://www.taxfoundation.org/files/burden_by_state-2007-04-04.pdf | ||
| + | *State Income Tax Rates: http://www.taxadmin.org/FTA/rate/ind_inc.html | ||
| + | *State Sales Tax Rates: http://www.taxadmin.org/FTA/rate/sales.html | ||
| + | *Cost of Living Comparison: http://www.relocationessentials.com/aff/www/tools/salary/col.aspx | ||
[[Category:Taxation]] | [[Category:Taxation]] | ||
Latest revision as of 21:58, January 26, 2019
A tax haven is a state or foreign government, most often offshore, which allows an individual or corporation to "hide" money, in a technically legal fashion, from their nationality's tax system and therefore avoid paying taxes on that money.
Also certain states, such as those in the American Redoubt have no sales tax (Oregon and Montana), or no income tax (Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming – see Free State Wyoming) or very low property tax (Idaho) and are considered to be more "free states" for that reason and others such as Second Amendment gun rights concealed carry and open carry freedom
Taxes and Cost of Living
Before making a strategic relocation or "vote with your feet" move to another state or country, be sure to research the various tax rates and the relative cost of living. These websites might prove useful:
- Overall Tax Burden by State: http://www.taxfoundation.org/files/burden_by_state-2007-04-04.pdf
- State Income Tax Rates: http://www.taxadmin.org/FTA/rate/ind_inc.html
- State Sales Tax Rates: http://www.taxadmin.org/FTA/rate/sales.html
- Cost of Living Comparison: http://www.relocationessentials.com/aff/www/tools/salary/col.aspx