South Dakota Among Most Tax-Friendly States
It has been said that there are only two certainties in life, death and taxes. You can't control one, but the other depends on which state you live in.
There are a lot of advantages to living in South Dakota. The winter weather may not be one of them, but a low tax burden certainly is.
Kiplinger is out with its Tax Map for 2019 and South Dakota ranks as one of the most tax-friendly states.
Kiplinger notes that South Dakota's state sales tax of 4.5% is below average (Sioux Falls adds 2% city tax), as is the $0.30 per gallon gasoline tax, 4% vehicle excise tax and the $1388 per $1000 property tax. South Dakota shines when it comes to our lack of state income tax or tax on inherited estates.
Iowa and Nebraska were ranked among the least tax-friendly states. Kiplinger dings the states for their higher than average property, vehicle, income, and estate taxes.
Minnesota ranks as not tax-friendly, even though its lowest income tax rate is 5.35%. Property taxes are average, while income, vehicle and inheritance taxes are on the high side.
Joining South Dakota as the most tax-friendly states are: Alaska, Arizona, Florida, Nevada, New Hampshire, North Dakota, Tennessee, Washington State, and Wyoming.