Based on the fact Nevada has no income tax, I thought of it as a low tax environment. Apparently they make up for the lack of income tax in other ways? Besides sales tax, what kinds of taxes would a wage earner have in Nevada?
See the link below and the referenced documents in that link for overall tax burdens by state. I believe that Nevada has the second lowest burden behind Alaska.
Taxes you could be subject to directly or indirectly in Nevada include: sales & use tax, tobacco tax, liquor tax, property tax, fuel tax, live entertainment tax, bank branch excise tax, modified business tax, insurance premium tax, tax on short term automobile rentals and finally a tax of $1 for each new tire you buy.
I'm not sure where Nevada stands on the issue of estate taxes but I believe they used a pick-up tax equal to the state tax credit under federal law. As that credit is now zero, there would no longer be an estate tax.
Yes, Nevada does. It's called "casinos."
I have seen this web site and also the taxfoundation.org review of state taxation before. The problem is they don't break down the type of tax per state. For example, the article here:
How much of the tax is income tax; how much is property tax; how much is sales tax, etc. They break down those things across all states, but not per state.
What you really need is something like a formula that could then be applied to given wage earner profile, given a particular type of property ownership, etc.
The detail information you desire is not available and I don't foresee it becoming available as there are two many variables. If you are interested in the relative difference in cost of living by state given a certain salary, that information is available. Try
and soon, perhaps, they will make up for the shortage in casino taxes with an income tax. Too many people moving to Nevada and expecting the state to provide them with things, and too much competition to the casino business.
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