2007-12-23 12:01:41 · 4 answers · asked by dnldslk 7 in Business & Finance ➔ Taxes ➔ Other - Taxes
Normally from sky-high property taxes and sales taxes. I owned property in TX for a number of years. No income tax sounded nice until I got my first property tax bill. The property taxes on the last TX rental that I sold last year was more than my combined property and income taxes are in MO, even though the value of the place in TX was just a bit over HALF the value of my home in MO!
Contrary to what another poster states, not all states tax corporate incomes.
2007-12-23 12:52:31 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Some states don't have income tax on individuals, but all states have income tax on corporations. All states have property taxes, and almost all have sales tax. There are plenty of other taxes too.
They also own natural resources, and they the rights to those. For example, the state of Texas has no personal income tax. But Texas does have plenty of oil off its shoreline, and it sells the rights to drill that oil for plenty of money.
2007-12-23 20:20:55 · answer #2 · answered by Plea_of_insanity 5 · 0⤊ 2⤋
Alaska: the oil industry
Texas: the oil industry, sales tax, highway tolls, etc.
Florida: taxes on assets of residents (includes those without income), sales tax paid by tourists, etc.
2007-12-24 15:31:33 · answer #3 · answered by StephenWeinstein 7 · 1⤊ 0⤋
It depends, but they usually get their tax base through higher property taxes, and the sales tax revenue.
2007-12-23 20:04:55 · answer #4 · answered by apollozk511 1 · 1⤊ 0⤋