Stop losing sleep over your tax situation. I'm Darrin Mish \u2014 a tax attorney in Tampa who's spent 32 years handling exactly this kind of problem. Here's what you need to know.<\/p>\n
Which states are the best to live in tax-wise? \u00a0It’s not so easy to determine because each state has its own tax<\/a> structure. \u00a0But The Tax Foundation reviews the states and each year they rank them based on all the taxes that are paid by businesses and residents. \u00a0Such information would be especially helpful for business leaders, taxpayers and even government policymakers to compare the taxation systems.<\/p>\n So for 2015, which state imposes the least taxes?<\/p>\n Unsurprisingly, the states like Florida that do not have individual income taxes are ranked very highly. \u00a0Other such states are Alaska, Wyoming, Nevada and South Dakota. \u00a0In fact, Florida is in the top five. \u00a0Other states namely Washington, Texas, New Hampshire and Tennessee do not impose income tax but do charge taxes on other forms of income. \u00a0So these states are placed in the top ten but not top five.<\/p>\n Here are the top ten tax-friendliest states for 2015:<\/p>\n 1. \u00a0Wyoming<\/p>\n 2. \u00a0South Dakota<\/p>\n 3. \u00a0Nevada<\/p>\n 4. \u00a0Alaska<\/p>\n 5. \u00a0Florida<\/p>\n 6. \u00a0Montana<\/p>\n 7. \u00a0New Hampshire<\/p>\n 8. \u00a0Indiana<\/p>\n 9. \u00a0Utah<\/p>\n 10. Texas<\/p>\n Most of these states do not charge one or more of the three major taxes – individual income tax, corporate tax and sales tax. \u00a0For instance,\u00a0Wyoming, Nevada, and South Dakota have no corporate or individual income tax whereas Alaska does not levy\u00a0income or state-level sales tax.<\/a> \u00a0Florida does not charge\u00a0individual income tax and New Hampshire and Montana have no sales tax.<\/p>\n But two of the top ten states do impose all three major taxes. \u00a0They are Utah and Indiana. \u00a0These states have all three major taxes but the rates are very low and broad-based.<\/p>\n