US States no Income Tax


 In the United States, nine states do not have a state income tax on earned income:

  • Alaska
  • Florida
  • Nevada
  • New Hampshire (though it did historically tax interest and dividend income, this tax was phased out as of January 1, 2025)
  • South Dakota
  • Tennessee
  • Texas
  • Washington (while not taxing earned income, it does levy a tax on capital gains for high earners)
  • Wyoming 
It is important to remember that while these states may not have an income tax, they often rely on other forms of taxation, like sales tax and property tax, to generate revenue for public services.

Comments

Post a Comment

Popular posts from this blog

3 Costly Accounting Mistakes Small Business Owners Make …and how to avoid them.

Image
  🚨 Small Business Owners — Are You Making These Costly Accounting Mistakes? Trying to save money by doing your own bookkeeping, payroll, and taxes can actually cost you more. We often see business owners: 1️⃣ Overpaying Sales Tax — Adding customer tips to sales, over-reporting revenue, failing to provide tax exemption certificates, charging incorrect sales tax rates, or paying more than collected due to reporting errors. 2️⃣ Paying Excess Employer Taxes — Missing the opportunity to legally save by classifying certain workers as contractors instead of employees. 3️⃣ Missing Allowable Deductions — Underreporting expenses like depreciation or business-use allocations, which increases annual tax liability. These mistakes don’t just cost money — they risk fines, hurt cash flow, and limit your ability to grow. ✅ A professional approach ensures accurate records, correct tax filings, and maximum savings — so you keep more of your hard-earned profit. 💬 Have you reviewed your ac...
Read more

🎯 MAJOR MILESTONE ACHIEVED 🎯

Image
  Successfully completed a comprehensive financial transformation for a leading nonprofit education organization in Madison, Wisconsin! The Challenge: Complex account reconciliation with multiple transaction duplications Broken accounting links requiring systematic cleanup Tight deadline to finalize current fiscal year books The Solution: Executed complete account restructuring and cleanup Eliminated duplicate transactions and restored data integrity Delivered accurate, finalized books within compressed timeline Implemented robust processes for future financial management The Result: Client satisfaction achieved - continuing partnership secured for ongoing services Financial clarity restored for strategic decision-making Efficiency improved through streamlined accounting processes Proud to support Wisconsin's educational nonprofit sector with reliable financial expertise that drives organizational success. #NonprofitAccounting #FinancialManagement #accounting #accoun...
Read more

Hire Professionals – A Practical Guide for Small Business Owners

Image
  Many small business owners try to save money by doing everything themselves — from daily operations to marketing and even accounting. While this may seem like a smart way to cut costs, it can often lead to burnout, missed opportunities, costly mistakes, and slower business growth. Here are three common areas where owners attempt to save money — and why hiring help can be a better investment. 1️⃣ Handling All the Main Operations Yourself Current Situation: Many owners, especially in industries like restaurants, retail, and personal services, work long hours — often over 50 hours per week — taking care of everything themselves, from production and customer service to cleaning and supply runs. Pros: Save around $10–$13 per hour by not hiring help. Cons: Physical and mental exhaustion that can hurt decision-making and long-term health. No time left for growth-focused activities like planning, networking, or developing new services. Better Approach: Hire assistants or p...
Read more