Income Tax Savings?

I’m paying a ton of income tax because I live in CT. I’m a LLC taxed as a S-Corp and the only employee currently. I do business nationwide

Where could I move in the US to give me the most cost savings?

This is an automatically-generated Wiki post for this new topic. Any member can edit this post and use it as a summary of the topic’s highlights.

Consider Nevada:

No personal income tax

No taxation of S corporations

1 Like

Interesting. How is Florida?

Florida is wonderful provided you’re willing to carry a sidearm to deal with the gators. There are not many gators in Nevada; Florida has 'em by the thousands! And BTW, you cannot run faster than a gator. They are speedy killing machines. :wink:

1 Like

Puerto Rico or US Virgin Islands have really good tax breaks. Effective total rates 5% or something, depending on the details (including Federal). Not sure if they count as “the US” to you.

1 Like

+1 At least spend 6 weeks there. The views alone will be worth the price of admission.

1 Like