18 Surprising Facts You Didn’t Know About Taxes

Photo by Gayvoronskaya_Yana from Shutterstock

13. Americans’ tax bill tops $5 Trillion

Collectively Americans paid $5.2 trillion in federal, state, and local taxes in 2019. This is actually more than the combined cost of food, clothing, and housing, according to the Tax Foundation.

14. 7 states have no income tax

Seven US states don’t impose state income tax—Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. New Hampshire and Tennessee don’t tax earned income either, but they do tax investment income—in the form of interest and dividends—at 5% and 2%, respectively, for the 2019 tax year.

Leave a Comment

Your email address will not be published. Required fields are marked *

related posts
from our network