Wednesday, September 14, 2011

Florida Has No State Income Tax, Will End Its Business Tax, and Has No Oil Industry

Rick Scott, governor of Florida, said they had a record summer, one year after the oil spill in the Gulf -- oh, by the way, no oil on Florida beaches.  He reminded folks that Florida created more jobs in the US than any other state, except for Texas. He reminded folks that Florida has no state income tax. And he will eliminate state business taxes in Florida.

Without doing the research, my hunch is that the North Dakota budget is in better shape than Florida's by a long shot and that the oil money is going to "overwhelm" even the politicians in Bismarck.

And yet, I don't see any broad-reaching tax-less initiatives in North Dakota. And yes, I know there has been some nibbling on the margins, but even in Williston, they will vote (again) to raise a sales tax / bond issue for city park improvement. Some developers are putting in their own water and sewer, relieving Williston of that cost in some areas. House appraisals in Williston are probably doubling over what they were four years ago, and I have not heard of any property tax relief like Proposition 13 in California, but again I could be wrong -- I have not followed tax policy in North Dakota, so a very superficial understanding. But I certainly haven't seen any headlines on tax reduction that would get one excited.

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