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Report: Nevada has one of lowest tax rates in country

Posted at 2:12 PM, Mar 13, 2018
and last updated 2018-03-13 20:50:16-04

Nevada is known as one of the few states without a state income tax. That is part of the reason why Silver State has one of the lowest tax rates in the country.

WalletHub found that Nevada ranked 4th for the lowest tax rates in the country, ranking 8th for income tax, 12th for sales and excise taxes and 15th for real estate taxes. However, Nevada is 39th for its high vehicle taxes.

Alaska, Delaware and Montana were ahead of Nevada for the lowest overall taxes. Alaska also doesn't have a state income tax and neither does Florida, South Dakota, Texas, Washington and Wyoming. 

However, Washington's sales and excise taxes are high while Texas residents pay significantly more for real estate taxes, bringing both those states to No. 33 and No. 28 on the list. 

WalletHub found that of the 50 states and the District of Columbia, Illinois has the highest tax rates in the country.