Idaho is in the News

10 states that are the most tax-friendly for middle-income households

From CNBC By Jessica Bursztynsky

* Illinois ranked as the least tax-friendly state for middle-income households, while Alaska took top honors, according to a study from GOBankingRates.

* Though individual income tax rates matter, so do sales and property taxes. Be sure to consider the overall tax picture when deciding where to live.

Jessica’s article goes on to inform people from Illinois they may want to move to the more tax-friendly state of Alaska, but if you’re not sure about moving to the land of the midnight sun you might consider moving to Idaho.  We are also on the list of the Top 10 most tax-friendly states.

Top 10 most tax-friendly states:
• Alaska
• Delaware
• Nevada
• Wyoming
• Montana
• Florida
• Tennessee
• Idaho
• South Carolina
• North Dakota

The CNBC article links to gobankingrates.com

Most Tax-Friendly States for the Middle Class

If you want a break from taxes, move to one of these states.

By Cynthia Measom

GOBankingRates conducted a study that determined the most tax-friendly states for the middle class by looking at the shares of certain income taxes paid by the middle 20 percent of income earners in 30 different states. If you’re in the middle class and hurting due to taxes, it’s worth it to know the best states for the middle class.

Even if you earn a decent middle-class salary, all of the state and local income taxes you have to pay can eat away at your bottom line, leaving you with less money in your pocket than you’d like. But not all states are equal when it comes to the amount of taxes you’ll pay due to owning property, buying goods or having to submit to a personal income tax. The best states for taxes, as well as the worst, exist.

GOBankingRates conducted a study that determined the most tax-friendly states for the middle class by looking at the shares of certain income taxes paid by the middle 20 percent of income earners in 30 different states. If you’re in the middle class and hurting due to taxes, it’s worth it to know the best states for the middle class.

(30 states are listed) See the article for the full list)

8. Idaho

Total share of state and local taxes paid by middle 20%: 8.1%
Share of personal income tax paid by middle 20%: 1.5%
Share of property taxes paid by middle 20%: 2.1%
Share of sales and excise taxes paid by middle 20%: 4.4%

Property taxes in Idaho are lower than average among U.S. states for all classes of earners, and there’s not that much difference in shares among the lowest 20 percent, middle 20 percent and top 1 percent of earners within the state: 3.3 percent, 2.1 percent and 1.6 percent, respectively.

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