10 Tax Friendly States - YouTube

What is going on everyone? Welcome back to the world according to Briggs did you

know that people like to save their money? And for some reason people like to

pay less for things than they normally would also it's really strange now if

your normal person that's a no-brainer if you're my wife well the phrase

money's no object comes to mind when it comes to money the United States has

gotten better for the country almost every quarter since 2010 the economy is

looking better for workers these days too unemployment is low job growth as

solid wages are growing this country has jobs and qualified workers about ten

years ago you had to take whatever employment you could get where a lot of

workers these days you have a handful of companies to choose from sometimes to

take a good job you might have to move to another state

now before you accept that job there's some things you should check out make

sure to check out the cost of living in your prospective employer city or state

look at the cost of housing and you should do some research on the state and

local taxes and how much they plan on ripping you off for in this video

Sukie calculated what it would look like for a married couple that rakes in about

a hundred fifty thousand a year in each state she gave me about thirteen pages

of numbers and I will oversimplify it and add a few strange comments so if

you're looking for the most tax friendly state you got to start with number 10

New Hampshire the Granite State comes in at number 10 for the most tax friendly

state in 2018 it's also a great place to go if you don't want to be shot stabbed

or robbed they don't do much of that there I don't know why it's awfully

exciting if you ask me New Hampshire goes very light onion come

tax and it only applies it to dividends and interest income there's no sales tax

in New Hampshire and they go easy on the gas tax as well it's only twenty three

point eight three cents per gallon local governments in New Hampshire are going

to stick it to you when it comes to property tax that one gets a little

rough now I'll give you the numbers here but don't tell me in the comments

section that they're wrong a year or two down the road things change these are

currently the numbers as of 2018 but it's 2019 right now 2018 with the last

completed year so here we go state income tax like I said is 5 percent on

interest and dividends only effective income tax is zero the average state and

local sales tax is zero they don't even get you when you're trying to buy stuff

you know nothing's worse and when you go to buy a bunch of those pudding cups

those snack pack pudding cups and they stick

it to you for an extra you know 30 cents it's just my problem anyway the average

property tax here though is two thousand two hundred ninety six dollars for a

hundred thousand dollar home that's kind of harsh

number nine Arizona the Grand Canyon State is a great state for just about

anyone that hates high taxes doesn't mind extreme heat and doesn't worry

about the potential skin cancer Arizona's very tax friendly state with a

lot of golf courses so it's obviously very popular with the retirement crowd

they also have a really good early bird special program too that really speaks

their interest for 2019 Arizona's top income tax rate of 4.5% doesn't kick in

till your taxable income exceeds 159 thousand dollars for a single filer and

three hundred eighteen thousand for married couple filing jointly now the

statewide average property tax isn't terrible either for a house that's four

hundred thousand dollars it's only three thousand fourteen dollars per year which

is below the average of the US they also only get you 19 cents per gallon of gas

on their gas tax which is good like most states the Grand Canyon state excludes

prescription drugs and food from the sales tax but some counties do have

their own grocery tax they sort of stick it to you on the sales tax the average

combined state and local sales tax is the 11th highest in the US and car

owners pay an annual vehicle tax which sucks so here it is in a nutshell the

effective income tax rate on average is two point seven seven percent for single

filers and three point two percent for joint filers the average state and local

tax the average is eight point three nine percent in the average property tax

is seven hundred and fifty four dollars per 100,000 dollars of the home value

and like I said earlier nineteen cents per gallon of gas tax number eight North

Dakota North Dakota has become a great place to relocate to in the last decade

or so the cost living is very low in housing prices are even lower the

Roughrider state which is one of its nicknames its income tax rate is

strangely low even for the top earners so for all you tech tycoons maybe the

peace and garden state is for you and yes that's another one of its nicknames

you may freeze to death during the winter but that's a small price to pay

for low taxes property taxes in North Dakota is where they make their money

it's just above the national average the tax on a four hundred thousand dollar

home owned by the hypothetical couple is estimated to be about 4223 per year

still less than I'm paying here in Oregon at 23 cents per gallon gas tax in

North Dakota is also well below the national average of 31 point 7 per a

line of gas now here it is the state income tax is 1 point 1 percent for

income of 39 thousand dollars or less for single filers 65 for families or

people filing jointly two point nine percent on taxable income over four

hundred and thirty three thousand dollars a year so two point nine is

really nothing I mean zero is great but two point nine is really low the average

state and local sales tax is six point eight five percent and where you compare

to California and I think last time I checked they were like God I don't know

seven point two five percent then you add in all the county and city taxes and

it gets up there but yes six point eight five is not terrible the average

property tax is one thousand fifty six dollars for every hundred thousand

dollars of a home value I'm like I said 23 cents per gallon of gas tax number

seven South Dakota just like North Dakota it can get a little brisk in

South Dakota and that is a serious understatement the Mount Rushmore state

is and what I refer to as America's icebox with North Dakota Minnesota and

Wisconsin so it gets cold if you could take the cold and a fair amount of

boredom you can take South Dakota it's really nice state and they do go easy on

the taxes South Dakota's combined state and local sales tax are about average

for the US however their prescription drugs are exempt from all taxes gas tax

is average so that's good property taxes in South Dakota is a little above

average but no big deal for a four hundred thousand dollar house you're

gonna pay about five thousand five hundred fifty one dollars a year in

taxes so it's not gonna kill you the way they get on this list is they have zero

income tax and when I say zero I mean zero income tax South Dakota doesn't

have an estate or inheritance tax either so when someone croaks you get all the

cash and I mean croak in the nicest way possible you know very positive way of

croaking please no more email saying I say mean things it's getting old anyway

like I said zero income tax their sales tax is about six point four average and

their property tax is thirteen hundred and eighty eight dollars for every

hundred thousand dollars of the home so that's not terrible

number six Alaska if you like it wild and you don't mind dodging moose on the

interstate think about Alaska that's a real problem moose on the

highway and subsequently moose on the bumper and possibly if you're going fast

enough moose on the windshield and your luggage rack and it requires a hose

moving on gas tax in the last frontier are the lowest in the US and Alaskans

pay no state income tax or state sales tax now local you know municipalities

and stuff and add their own sales tax if they want the average sales tax that

they've put on there's about 1.5 percent not a lot Alaska's largest city has no

sales tax and as far as property tax goes if you purchase a home for 400,000

in Alaska your estimated property tax bill would come to about four thousand

nine hundred and thirty six that's a tad above the national average but all the

other things are pretty low they also have some funky laws that let you pay a

reduced property tax if your house is under construction so this is the hustle

you'll drive down the highway and you see all kinds of roads with that Tyvek

siding white stuff on the side of their house and then they can say it's under

construction I'm not sure how many years I heard a couple different things that

it could be like two years in a row and I've heard it could be as many as five

years so people just leave that Tyvek on there until they pull the reduced tax

thing on them and then they you know finish their house finally like I said

the income tax is zero the sales tax is one point five maybe maybe zero in some

places the gas tax is fourteen point six six cents per gallon so Alaska's really

light on the taxes number five Washington state Washington is a little

bipolar when it comes to taxes and I mean bipolar in the nicest way possible

they are really easy on the taxes and then they go a little crazy with the

taxes but in the end it isn't that bad what gets them this high on the list as

residents here make far more money on average than other residents of states

with no income tax the average combined state and local sales tax rate in

Washington is the third highest in the country so that's bad and their gasoline

tax is the fourth highest in the country property tax in Washington is more

modest for a four hundred thousand dollar home you're probably looking at

about four thousand four hundred ninety nine per year which is close to the

national average it's that no state income tax that makes this place great

when I worked at Comcast I would have been saving somewhere

$750 a month if I just would have gone across the bridge and lived in

Washington State I could have still kept my job at Comcast I mean it would add an

extra 20 30 minutes to my commute a day but I would have been saving $750 a

month it just didn't seem worth it at the time

like I said state income tax is zero state effective income tax is zero the

average state local sales tax is about nine point two one percent so that's

kind of high the average property tax you'll be paying about eleven hundred

and twenty-five dollars per hundred thousand on the home and the gas tax is

forty nine cents per gallon that's kind of harsh but still that no income tax is

great in Washington number four Florida Florida is a popular

state for retirees for a few different reasons the weather the beaches the

taxes and the over 50 retirement community filled with swingers I'm not

kidding it's called the village and they're retired and they're swingers you

know it's pretty sad when your grandparents are partying harder than

you Florida has no income tax which keeps the overall state and local tax

burden down the Sunshine State is average or above average when it comes

to all the other taxes they don't have an estate or inheritance tax so that's

good property taxes are middle-of-the-road

right around the national average a four hundred thousand dollar home in Florida

on average annual property tax bills gonna be about forty one hundred dollars

a year the gas tax in Florida is high forty one cents per gallon that's the

tenth highest in the nation but no income tax and wild seniors it's a win

like I said no income tax the average state and local sales tax is seven point

zero five percent the average property tax is 1041 dollars for every hundred

thousand dollars on the home and yeah Florida the Sunshine State

number three Tennessee the Volunteer State would probably be one of the top

five states in the Union if they could just convince Arkansas into taking most

of Memphis away take it off our hands it's all yours they could promise to

send them some dentists or safety instructions for deep-frying

Thanksgiving turkey that'll save a lot of lives in Arkansas there's no

broad-based income tax in the Volunteer State only interest in dividends are

subject to Tennessee's limited income tax they do have some small taxes on the

dividends but they're waived if you're over a hundred years old

I'm not kidding they're waiving taxes for anyone over a hundred years old how

did they get that law in place I get the feeling some politician

did that during an election year so they could claim that they lowered taxes yeah

great job guys great job you lowered the taxes for 14 people in

the entire state the good news is the dividend tax is being phased out at 1% a

year and it'll be completely gone by 2021 property tax in Tennessee isn't bad

expect to pay about three thousand and seventy two dollars per year for a four

hundred thousand dollar home which is well below the national average gasoline

tax is below average as well it's about twenty seven point four cents per gallon

Tennessee does kind of get you with the sales tax at nine point five percent but

everything else is great number two Nevada now I love Nevada well really I

love the people of Nevada they help get this channel going I made a negative

video about Las Vegas two or three years ago and these people lost their frickin

mind in the comments section which helped the stats then they shared it so

much the stats went through the roof so thank you I hated having a nine-to-five

job the Silver State is Nevada's nickname and it's another no income tax

haven no income tax which is always good and in case anyone wants to explain to

me that that's not the nickname please google it before you leave your comment

I had a guy tell me that I was an idiot because the name Sin City applies to the

whole state does not it just applies to Las Vegas the property taxes in Nevada

are below average too estimated to be two thousand seven hundred and seventy

one dollars on average for a four hundred thousand dollar home Nevada

receives more than 1.5 billion in taxes and fees annually from the hotel casino

industry but they still kind of stick it to the residents with the sales tax

state and local they kind of get you there but it's still not the worst

condition the sales tax they got some small fees for vehicles and things like

that and their gas tax is slightly above the national average at thirty one point

seven cents per gallon but again no state income tax is phenomenal and

number one Wyoming why all mean is cowboy country there are a lot of

residents here that would be perfectly fine with getting rid of cars entirely

and just riding horses the state's nickname is the quality state which is

the official name but most people know it as the cowboy state why Wyoming takes

the top spot it's because of the ample revenue from the mineral and energy

extractions that continue to flow through the state this makes it much

easier on the residents when it comes to tax burden

they're getting their money elsewhere they don't need to Jack Mon pot kettle

there is no income tax in Wyoming zero zilch nada nothing you keep what you

make as far as the state's concerned the IRS on the other hand is a little more

hard-nosed when it comes to income tax the state sales tax rate is also the

third lowest in the country for states with sales tax and there's only two

cents per gallon when it comes to gas and at two cents a gallon Wyoming has

the lowest beer tax in the country

alright so that is my top 10 most friendly tax states hope you guys got

some information out of this one this is one that's been requested over and over

and over I hope I gave you the information you're looking for anyway

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nice to each other

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