While the unemployment rate has hovered below 5% since mid-2016, wages have remained relatively flat, with average salary increases expected to increase just 3% in 2018. For many workers, the only way to get a big raise is to change jobs, and that often means moving to another state.
But before you accept an offer, you should check out the cost of living in your prospective employer’s city. You’ll want to look at home prices, of course, and the area’s public schools, because sending your kids to private school could wipe out your increase in salary. And don’t overlook the hit you’ll take from state and local taxes. Our annual guide to state taxes shows that tax rates are literally all over the map–and the difference could make a real impact to your personal bottom line.
Updated for 2017, here is our list of the 10 most tax-friendly states in the U.S. The top five states on our list have no state income tax at all.
Take a look. #1, Wyoming, is the most tax-friendly.
SEE ALSO: TAX MAP: State-by-State Guide to Taxes
SEE ALSO: SLIDE SHOW: 10 Least Tax-Friendly States
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Date — October 4, 2017 4:00 am
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