Friday, 2 March 2012
why oh why oh ming?
You know the guys who are always saying they are going to leave the country because of the horrible taxes? I think they should move to Wyoming. Why? Well, apart from the fact it is America's tenth biggest and least populous state, whose capital and biggest 'city' Cheyenne has a population of 60,000, the tax regime is:
- no state income tax, either for individuals or corporations, and no tax on post-retirement income coming in from another state.
- 4% sales tax
- no inheritance tax
Apparently, it has the most 'business friendly' tax system of any of the united states. Woo hoo.
One thing I have noticed: New York might have a crappy tax system for bankers (New York's taxes have to pay for loads of stuff) but all the bankers are still in New York.