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| *Loan,banking and credit>>>income tax |
How do certain states make money if there is no sales tax or state income tax? |
I was in New Hampshire over the weekend and it is totally mind boggling to me that the state does not tax your paycheck. On top of that there is no sales tax, unless it's prepared food, and to top it off their gas is cheaper. How does NH stay afloat? Are there other types of taxes that states like New York don't have? I'm thinking there must be a catch to it... (aside from the weather). New Hampshire is the only state without a sales tax and a state income tax. They do have a tax on interest and dividends however, and a business profits tax and business enterprise tax. They also have very high property taxes. They also don't have much for state services, their motto is "New Hampshire, live free or die". I don't know about New Hampshire but most states have at least income or sales tax if not both. Simple they tax eslewhere most noteably property taxes. Florida has no sales tax on groceries and no state income tax but they have a heavy tourism, crops and tax the beejesus out of homeowners. Also If you look close you may see that the state sales tax is higher. |
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