(TheLibertyRevolution.com)- There are nine states in the U.S. that don’t levy any state income tax on their residents, which is why so many people are flocking to these states in droves.
Texas, Tennessee and Florida are seeing a dramatic influx in new residents moving to their states in recent years, while New Hampshire, Wyoming, Washington, South Dakota, Nevada and Alaska also don’t charge state income tax.
Now, it’s possible that more states could soon follow this trend and do away with their state income taxes in the next few years.
Grover Norquist, the president of Americans for Tax Reform, appeared on the John Solomon Reports podcast recently, commenting on the topic by saying:
“There are 10 states that are in the process of moving their personal income tax to zero.
“North Carolina is a few years away from having zero income tax. New Hampshire will have zero income tax — they’re getting rid of their tax on dividends and interest over the next three years.
Doug Burgum, the governor of North Dakota, announced a new plan back in August 2022 to eliminate income taxes on individuals in a move to save taxpayers in the state about $250 million every year.
When that announcement was made back in August, Burgum said:
“Now is the right time to provide meaningful, permanent tax relief to make our state a more attractive place to work and a more affordable place to live. Under this proposal, almost 60% of taxpayers won’t have to pay state income tax, and those who do will see their income tax liability reduced by roughly one-quarter to one-half, allowing North Dakotans to keep more of their hard-earned money to offset expenses and invest in their families and communities.
While it’s great that so many states are moving to eliminate their state income tax, it’s a very long process and certainly won’t happen overnight, Norquist said.
He described that Kentucky’s move to doing it will likely take 12 years. In Louisiana, it could take as much as 15 yeas to phase down to no state income tax. The state of Mississippi is already one-third of their way through the process there, and they will still need at least 10 more years to get down to zero, Norquist said.
West Virginia is quite at zero income tax yet, but they are working to cut back dramatically. Last fiscal year, the state finished by having a surplus of about $1.3 billion.
Jim Justice, the governor of West Virginia, said:
“We’ve seen more and more surpluses roll in each and every month of this fiscal year, and now it’s time for some relief in the form of substantial tax cuts. With this new year comes the opportunity before us to make real, substantial tax cuts that will benefit West Virginians for generations to come.
Many other states are thinking about working to try to reduce state income taxes, if not eliminate them altogether, which will certainly benefit all residents in the state.