What states are the most investor friendly?
Posted by admin in Finance Tuesday, 22 November 2011 09:02 2 Comments
Are taxes on short term and long term investment income in all 50 states the same? Or are certain states better for investors? And which ones?
Federal tax obligations will be meted out equally throughout the country. State taxes are variable. I’m in Texas, for example, where there is no State tax. Our real estate taxes are on the high end nationally, however. Thus, as you’d expect, there are differing considerations applicable on a State-by-State basis.
Still, I suspect you are asking about favorable taxation on market earnings in which case it’s the Fed side that comes into play. There is no relief in sight for the beleaguered income producer who dwells on Wall Street, alas and alack. As a matter of fact, things will grow far worse towards the end of this year when the capital gains levels rise very substantially. I’m expecting to see major selling off starting with the beginning of Quarter 4 in October of this year when a lot of long time investors throw in the towel rather than pony up 29% of their gains due to new tax rates.
Len
All the states have different rules about taxes for investments. But the only triple tax-free bond is from Puerto Rico.