Does Nevavda have Tax?

Question

My family and I want to move to Nevada. We are trying to live in a huge suit. We can only move there if there is no tax. I think California is the only state with tax. I don't know! Please, no silly answers my family is serious.

Answer 1

Every state has taxes of one type or another. NV doesn't have an income tax but it certainly does have business, sales, and property taxes.

I have to ask, though. How are you going to live in a "huge suit?" Just curious...

Answer 2

OK, we're serious. Although living in a huge suit will probably be difficult to walk around.

Why can you only move to a place where there is no tax? Why not spend a little less and pay tax?

There are several states that have no income tax. NV is one. So is Texas, Wyoming, Washington and several others. In Alaska, not only is there no income tax, the state PAYS you to be a full-year resident.

But even in these states, there's also tax. (BTW, Bostonian, there's no corporate tax in NV either....NV gets its revenue form gambling taxes and sales taxes). Most non-income tax states have higher property taxes. And some have higher sales taxes. But not all.

And ANY state you live in you would owe Federal income tax.

-A Darn Good Tax Advisor