move to income tax free states?

[thaitanic]

if you were offered a solid job paying around 90k to low tax states like wyoming, SD, nevada, washington. would you uproot and move or stay in denver?

[GixxerCarrie]

I'm from South Dakota and do my Dads Taxes, who still lives there. Although they pay no state tax their property taxes and sales taxes make up for the difference. Not that ours arent high, just depends.

Bottom line as an Accountant-Its all about what you can deduct. Owning a home, or business, etc., deduct taxes.

I wouldnt let state taxes and at your 90K range of 3-3.5K decide where I want to live~

[Smitty]

I guess it would depend on what I'm currently making. If I was already making 80K then no, I don't think i would move. But, if I was making 30K then yeah I'd be willing to move somewhere else. It would also depend on what's around that area. I love living in Colorado so it would need to be a place equally as good.

[BigE]

As someone who has lived in CO for the last 40yrs...

a 90K/yr job...Hell Yeah! Especially to the states you mentioned. Now if it was to go to like KS or somewhere back East....that would take some debating.

[jbnwc]

I would move to Sioux Falls, SD in a heartbeat if you have a family and can live without twisty roads. That's a really nice town, but the nearest canyon is a 7 hr drive. And it's fricken cold.

[asp_125]

Income tax free usually means they make up for it in other taxes. So find out from the prospective state what their state sales tax, property tax etc rates are and what the net change is.

Also what the housing costs and cost of living is. It may be a wash, or marginally different, in which case it comes down to quality of life.

[MetaLord 9]

I guess it would depend on what I'm currently making. If I was already making 80K then no, I don't think i would move. But, if I was making 30K then yeah I'd be willing to move somewhere else.

This

Income tax free usually means they make up for it in other taxes. So find out from the prospective state what their state sales tax, property tax etc rates are and what the net change is.

Also what the housing costs and cost of living is. It may be a wash, or marginally different, in which case it comes down to quality of life.

And this.

They're gonna get your money one way or another, so I wouldn't let it weight that heavily into my decision, were it mine to make.

[asp_125]

CO state income tax 4.63% (2010)
Denver sales tax 3.62% (2010)

Sales tax in:
AK: 0%
FL: 6%
NV: 6.85%
SD: 4%
TX: 6.25%
WA: 6.5%
WY: 4%

Looks like Alaska might be your best bet.

[Kitten]

CO state tax 4.63% (2010)
Denver sales tax 3.62% (2010)

Sales tax in:
AK: 0%
FL: 6%
NV: 6.85%
SD: 4%
TX: 6.25%
WA: 6.5%
WY: 4%

Looks like Alaska might be your best bet.

Ahhh, but you neglect one thing in your analysis...If you moved to Vancouver, WA you can avoid most sales tax by shopping just across the bridge in Portland, OR. Now you have no income tax and no sales tax (for the most part). You do, however have to deal with about 7-8 months of rain though. The lakes and rivers are quite nice though!

[asp_125]

Ahhh, but you neglect one thing in your analysis...If you moved to Vancouver, WA you can avoid most sales tax by shopping just across the bridge in Portland, OR. Now you have no income tax and no sales tax (for the most part). You do, however have to deal with about 7-8 months of rain though. The lakes and rivers are quite nice though!

Ahh but then you'd be living in Vancouver, WA. But that'd still be better than claiming you're from a town called Beaverton. ;P

I grew up in Vancouver BC and we would shop in Portland when the dollar exchange was good.

[Ricky]

Nevada sucks. Trust me, I lived there for many years. They still have high vehicle registration, high state sales tax, and ridiculous property taxes.

The only town (yes, I use the word town) in that state that is any good is Las Vegas. And even then, Las Vegas sucks compared to Denver. It's not a good place to live. Desolate otherwise.

[Captain Obvious]

When I moved from FL (no income tax) to GA (income tax), I got a pay raise of @ 10k. I think I saw a pay hike of about $100 per month in my paycheck.

Like others say, much of the income tax no income tax is balanced out in other methods however your spending and other money habits can help you feel like you are keeping more of the salary.

You have to take other considerations into account, Cost of Living, do you really want to live in the area vs your current location, etc, etc.

[Aphrodite]

I moved here from WA state, Blaine WA, and cost of living was good pretty average or less than here rained everyday it seemed, prior to that I lived in Kentucky, cost of living was rock bottom but so was quality of life, and heat and humidity was crazy. IMO, ya you pay 100.00 month for rent but there are no jobs most nearly everyone is drawing a stupid check or you travel an hour on back roads to another city to have a decent job. Cost of living vs Quality of living vs Weather = win for Colorado

[thaitanic]

I moved here from WA state, Blaine WA, and cost of living was good pretty average or less than here rained everyday it seemed, prior to that I lived in Kentucky, cost of living was rock bottom but so was quality of life, and heat and humidity was crazy. IMO, ya you pay 100.00 month for rent but there are no jobs most nearly everyone is drawing a stupid check or you travel an hour on back roads to another city to have a decent job. Cost of living vs Quality of living vs Weather = win for Colorado

...i agree with you to some extent. i did my own research. seattle,WA for example cost of living is 20% higher than denver! which really suprised me.and that alone will erode 30k raise i will get by moving to seattle.

[salsashark]

...i agree with you to some extent. i did my own research. seattle,WA for example cost of living is 20% higher than denver! which really suprised me.and that alone will erode 30k raise i will get by moving to seattle.

Seattle is more expensive but have you sourced surrounding areas?

[Aphrodite]

Blaine WA is three hours North of Seattle and I was Renting a house in birch Bay @ $526.00 a month the electricity was comparable to here and so was natural gas and it was the same cable nightmare of Comcast Cable