Do states with no income tax save residents money?

no state taxes

A state might have no income tax, but it might make up for that through other taxes.

If you’re thinking about moving to a new location, it’s reasonable to seek out spots that might cost you less. Thus many people turn to states with no income tax. However, there’s more to the picture than income taxes.

 

 

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Nevada’s big bet on ‘shell’ secrecy

nevada

Nevada is a magnet for businesses seeking secrecy.

In Nevada, the business of registering businesses is booming and the consultants in this thriving industry, many who are former felons, are aiding companies in seeking to avoid liabilty and disclosure.  But many of these consultants are former felons.   All of this comes at a time when Washington is calling on other nations to enforce greater transparency of financial flows.

 

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Amazon staves off the tax man for another year

amazonboxsalestax

Safe for another year or so.

One of the cornerstones of Amazon’s business has been avoiding sales taxes; because their transactions are online, you don’t have to pay Uncle Sam with every purchase. And now, thanks to some maneuvering around a proposed California law, you’ll remain off the hook for another year…

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Top 25 CEO’s earned more than their company’s tax bills

top ceo's

The gap between CEO and average U.S. worker pay rose from a ratio of 263-to-1 in 2009 to 325-to-1 last year.

A report released Wednesday from the Institute for Policy Studies shows many large companies pay more to CEOs in compensation than they did in corporate income taxes to the federal government in 2010.

 

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Julian Assange Pledged to Reveal Confidential Tax Details of 2,000 Wealthy People

[youtube]http://www.youtube.com/watch?v=Iqvf0hXFQUg[/youtube]

Julian Assange, the WikiLeaks founder, today pledged to make public the confidential tax details of 2,000 wealthy and prominent individuals, after being passed the data by a Swiss banker who claims the information potentially reveals instances of money-laundering and large-scale illegal tax evasion.

 

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Cities and States in Hotel Tax War with Online Travel Booking Sites

 hotel front desk

Hotel tax war between cities, states and online travel sites.

The last time you went on vacation or hit the road for work, chances are you scanned the hotel bill but barely gave the taxes that were tacked on a thought.Yet those taxes, paid for occupying a hotel room, are at the root of battles being waged in courts across the U.S. between online travel booking sites and cities and states that say they’re not getting their fair share.

 

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8 Problems That Could Send the Economy into a Double-Dip Recession

resting-bull

Double-dip recession

With stock prices spiraling downward and treasury yields tanking, the market has been sending a clear message this week: The fragile economic recovery is in trouble. But just how bad is the outlook? In the aftermath of a bleak second quarter, experts are still divided about the likelihood of a double-dip recession. What’s becoming clearer with each new report, though, is that the economy–even if it doesn’t double dip–is steadily losing ground.

 

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2009 Tax Bills Lowest Since 1950

taxes

American’s paid their lowest level of taxes since 1950.

Amid complaints about high taxes and calls for a smaller government, Americans paid their lowest level of taxes last year since Harry Truman’s presidency, a USA Today analysis of federal data found.  Some conservative political movements such as the “Tea Party” have criticized federal spending as being out of control. While spending is up, taxes have fallen to exceptionally low levels.

 

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