Do you know that most individuals must file tax returns for each federal AND state revenue taxes? Discover out which states haven’t got state revenue taxes.
Reply: 9 states
Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming.
Word: Washington and New Hampshire don’t tax earned revenue, however have some taxes on different revenue (ie. investments)
Questions:
- How does your state’s tax charge examine to different neighboring states?
- Do you assume that states which have excessive state revenue tax charges (e.g., CA and NY) must pay increased salaries to compensate workers for these excessive taxes? Why or why not?
- Are you able to title frequent taxes that folks pay apart from state and federal revenue taxes?
Click on right here for the ready-to-go slides for this Query of the Day that you need to use in your classroom.
Behind the numbers: (Investopedia):
“Earlier than you rent a shifting firm to take the whole lot you personal to one in every of these states, you would possibly need to take into account different components, together with:
- Gross sales, excise, and property taxes
- Affordability
- The impression of decrease taxes on a state’s capacity to spend money on social providers, corresponding to infrastructure, schooling, and healthcare”
About
the Writer
Kathryn Dawson
Kathryn (she/her) is happy to hitch the NGPF group after 9 years of expertise in schooling as a mentor, tutor, and particular schooling instructor. She is a graduate of Cornell College with a level in coverage evaluation and administration and has a grasp’s diploma in schooling from Brooklyn Faculty. Kathryn is trying ahead to bringing her ardour for accessibility and academic justice into curriculum design at NGPF. Throughout her free time, Kathryn loves embarking on cooking initiatives, strolling round her Seattle neighborhood along with her canine, or lounging in a hammock with a ebook.
