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Best States for Relocation with Regards to Income Tax

When considering relocating, one important factor in your decision might be state income tax. The most obvious choices are the handful of states that do not have a state income tax, listed below in alphabetical order.

Alaska

Climate is another consideration besides tax

Climate is another consideration besides tax

The economic growth is still slow, slightly under one percent. Jobs are mainly found in service industries, such as hotels and lodges, places for recreation and amusement, social services, healthcare and business – primarily all seasonal positions.

Florida

Healthcare related fields have grown steadily since 2007, with the field for physician’s assistants alone growing 17 percent. Air traffic controllers are also seeing growth around 14 percent, although the number of new jobs available is still fairly low. The majority of jobs experiencing growth require professional degrees or degrees coupled with experience.

Nevada

Overall job growth in Las Vegas – the most populous city in Nevada – is around 28 percent. The leading employment fields are in office and sales positions, service positions, and professional and managerial positions, which are primarily encompassed in the industries of recreation, arts, entertainment, hotels, food services, and construction.

New Hampshire

As of October, 2012, the unemployment rate sits just over five percent. The main industries reporting job growth are seasonal positions in the hospitality area, lodging and dining, private health services, and private education. Despite low unemployment numbers, there were 4,841 new unemployment claims filed in October, 2012, and over 34,000 residents collecting unemployment. (Note: income taxes on interest and dividends only)

South Dakota

This state is in the unusual position of having too many jobs and not enough workers to fill them. The problem is finding workers with the skills for the available jobs, mostly in manufacturing. People with experience in this field, as well as information technology and engineering can find ample jobs available.

Tennessee

The Tennessee job market has not declined as much as everywhere else in the United States. 2012 saw a national decline of 32 percent for job postings, while Tennessee only dipped eight percent. Popular jobs in Nashville include administrative assistant, part-time UPS package handler, warehouse worker, business analyst, marketing director, and project manager. (Note: income taxes on interest and dividends only)

Texas

If you are considering a move to Texas, you should check out Austin. The unemployment rate is currently 5.6 percent and Austin is home to many high tech companies like Dell, 3M Company, Cisco, Hewlett-Packard, and Samsung, just to name a few. Other major employers include the Seton Healthcare Network and the University of Texas.

Washington

Despite the high unemployment rate of 8.7 percent, the Bureau of Labor Statistics reported an increase of over 46,000 jobs over the past year. October to November saw an increase in non-farming jobs of 1,600, as well as 2,400 jobs added to the private sector. Additional fields that experienced job growth during this time period include retail trade, construction, and the leisure and hospitality industry.

Wyoming

The oil and gas industries have helped keep residents of Wyoming employed. In addition, during the 2010-2011 school years, teachers were paid the highest wages of any of the six neighboring states, at just under $60,000 per year. Transportation and warehousing, construction, wholesale trade, manufacturing, mining, and agriculture all reported steady employment. The unemployment rate is currently around 5.4 percent state-wide and under four percent in several counties.

This article was written by Rachel Oda who writes about various family and small business finance articles. Keep checking back for more articles!

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