![]() ![]() The federal tax deadline is not far away meaning it's time to start collecting your 2021 tax documents. You can check your state's filing deadline here. ![]() While most state deadlines are the same day, a few states have bumped their deadline back a few extra weeks. Taxes are traditionally due on April 15, but because April 15 falls on a holiday for Washington D.C., tax day this year is April 18, 2022. Tax season is well underway as the IRS started accepting and processing tax returns on Jan. Tax deadlines, and what to know about online tax software This is based on your age and filing status, but you can use a federal income tax calculator like this one from SmartAsset to determine just how much you can expect to pay. Leaving a big city, for example, you may have to accept certain trade-offs, such as a lower paying job for more affordable real estate.Īnd even if you live in a no-income-tax state, you'll likely still owe federal income taxes if your total income is more than the standard deduction. To weigh another state's affordability, consider these above factors as well as the overall cost of living and job opportunities in your field. Nationwide, the average school spending per pupil is $12,612, and Florida, Nevada, Tennessee, Texas all spend less than the average. South Dakota, for example, spends the lowest on education of all states in the Midwest, at $10,073 per pupil per year. ![]() Lower taxpayer dollars likely translates into lower funding for these initiatives. Taxes are also a big source of income that the state uses to finance public services such as infrastructure, healthcare and education. Of all states, New Hampshire and Alaska rely the most on property taxes, with tax collections accounting for 67.6% and 51.8%, respectively, of their revenue. Washington state has one of the highest tax rates on gasoline in the nation, at 49.4 cents per gallon. States with no income tax often make up for the loss of revenue to the state by charging residents a higher sales, property or excise tax (taxes on goods like fuel, tobacco and alcohol).įor instance, Tennessee has the highest combined sales tax rate in the nation at 9.53%, according to the Tax Foundation, a D.C.-based think tank. While moving to a state with no income tax may sound appealing, it comes with trade offs. ![]()
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