Nicole Lappin

But let's be honest here, can you imagine Jeff Bezos moving to Alaska? Like, after the finale of True Detective Night Country? It is hard to compete with the Sunshine State for sure, especially if you're a state that only gets three hours of sunlight during parts of the year.

But let's be honest here, can you imagine Jeff Bezos moving to Alaska? Like, after the finale of True Detective Night Country? It is hard to compete with the Sunshine State for sure, especially if you're a state that only gets three hours of sunlight during parts of the year.

So even though there are other states with better tax advantages than Florida, I'm going to include it in the top three because it's a really common move for the ultra rich and because it becomes a really interesting test case for the importance of income tax. I'll explain that in just a bit, but for now, let's head west to Nevada.

So even though there are other states with better tax advantages than Florida, I'm going to include it in the top three because it's a really common move for the ultra rich and because it becomes a really interesting test case for the importance of income tax. I'll explain that in just a bit, but for now, let's head west to Nevada.

So even though there are other states with better tax advantages than Florida, I'm going to include it in the top three because it's a really common move for the ultra rich and because it becomes a really interesting test case for the importance of income tax. I'll explain that in just a bit, but for now, let's head west to Nevada.

Similar ish to Florida, the sales tax isn't going to knock your socks off. It's just under 7%. But Nevada has the fourth lowest property tax rate in the country, which is a big deal. I know that so far this has been pretty abstract, so let's take a look at what it would be like to actually live in these states.

Similar ish to Florida, the sales tax isn't going to knock your socks off. It's just under 7%. But Nevada has the fourth lowest property tax rate in the country, which is a big deal. I know that so far this has been pretty abstract, so let's take a look at what it would be like to actually live in these states.

Similar ish to Florida, the sales tax isn't going to knock your socks off. It's just under 7%. But Nevada has the fourth lowest property tax rate in the country, which is a big deal. I know that so far this has been pretty abstract, so let's take a look at what it would be like to actually live in these states.

And let's compare and contrast with my home state of California, because here on Money Rehab, we face our finances head on. Let's imagine you own a $400,000 home and you're making 70K a year. What are our state rankings when we're looking at property taxes? Nevada is the champion where you'd only owe $2,200 in property taxes. Wyoming is a close second.

And let's compare and contrast with my home state of California, because here on Money Rehab, we face our finances head on. Let's imagine you own a $400,000 home and you're making 70K a year. What are our state rankings when we're looking at property taxes? Nevada is the champion where you'd only owe $2,200 in property taxes. Wyoming is a close second.

And let's compare and contrast with my home state of California, because here on Money Rehab, we face our finances head on. Let's imagine you own a $400,000 home and you're making 70K a year. What are our state rankings when we're looking at property taxes? Nevada is the champion where you'd only owe $2,200 in property taxes. Wyoming is a close second.

There you'd owe a little over $2,400 in property taxes. In California, you'd be paying $3,000. And in last place, Florida, where you'd be paying just about $3,300. So far, we're not seeing that much tax love, right? Nevada is the winner. Florida is the loser. And my home state of California, not looking so bad. But wait for it. Now we're going to add that layer of income tax.

There you'd owe a little over $2,400 in property taxes. In California, you'd be paying $3,000. And in last place, Florida, where you'd be paying just about $3,300. So far, we're not seeing that much tax love, right? Nevada is the winner. Florida is the loser. And my home state of California, not looking so bad. But wait for it. Now we're going to add that layer of income tax.

There you'd owe a little over $2,400 in property taxes. In California, you'd be paying $3,000. And in last place, Florida, where you'd be paying just about $3,300. So far, we're not seeing that much tax love, right? Nevada is the winner. Florida is the loser. And my home state of California, not looking so bad. But wait for it. Now we're going to add that layer of income tax.

At $70K a year, you're going to owe around $8K in federal taxes. So across all of our state examples, we're going to bump our take home pay down to $62,000. Then the state taxes. In California, state taxes on 70K could be around three grand. So the take-home pay of $62,000 gets cut down to $59,000. But in Wyoming, Nevada, and Florida, nothing, nada, zippo, zilch. No more income tax.

At $70K a year, you're going to owe around $8K in federal taxes. So across all of our state examples, we're going to bump our take home pay down to $62,000. Then the state taxes. In California, state taxes on 70K could be around three grand. So the take-home pay of $62,000 gets cut down to $59,000. But in Wyoming, Nevada, and Florida, nothing, nada, zippo, zilch. No more income tax.

At $70K a year, you're going to owe around $8K in federal taxes. So across all of our state examples, we're going to bump our take home pay down to $62,000. Then the state taxes. In California, state taxes on 70K could be around three grand. So the take-home pay of $62,000 gets cut down to $59,000. But in Wyoming, Nevada, and Florida, nothing, nada, zippo, zilch. No more income tax.

You're just staying there at 62K. So now let's look at the take-home pay after income taxes and property taxes. And that gives us the final rankings of First place, Nevada, where your take home pay would be $59,800. Just barely behind Nevada. Second place, Wyoming, where your take home pay would be $59,560.

You're just staying there at 62K. So now let's look at the take-home pay after income taxes and property taxes. And that gives us the final rankings of First place, Nevada, where your take home pay would be $59,800. Just barely behind Nevada. Second place, Wyoming, where your take home pay would be $59,560.

You're just staying there at 62K. So now let's look at the take-home pay after income taxes and property taxes. And that gives us the final rankings of First place, Nevada, where your take home pay would be $59,800. Just barely behind Nevada. Second place, Wyoming, where your take home pay would be $59,560.