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RE: State Income and Sales Tax Rates by State
Nevada doesn't have an income tax, but Texas has a gross receipts tax for business. Texas does not, however, have an individual income tax. The map specifically address individual income taxes.
Ahhh, I see. Therefore, if you're thinking of doing remote business, Nevada is your best option to maximize cost-benifits, correct?
There's more to consider than just taxes when making that type of decision. It's important to remember that spending a dollar to save 30 cents still results in a loss.
Good point. I was just referring to freelancers or like jobs that could be performed remotely (i.e. writing/programming jobs) - since there's no income tax in Nevada, you get to keep everything that you earn. Plus, the living costs is Nevada is probably much cheaper than places like California. Correct me if I'm wrong, though - I'm not that familiar with the legislation/tax regulations in the US haha
Fair enough.