Map of Delaware

Below is an article from the Delaware Business Times by Alex Vuocolo on October 15th:

Delaware cracks Kiplinger’s top 10 most tax-friendly states

Kiplinger has released its rankings of the best and worst states for taxes. The list was revealed as part of Kiplinger’s sixth annual Tax Map—available at Kiplinger.com/links/taxmap—which shows state income taxes, sales taxes, gas taxes, sin taxes and other tax rules and exemptions across the country.

Delaware cracked the top 10 most tax-friendly states.

“It’s important that Americans don’t overlook the impact of state and local taxes on their bottom line,”  said Robert Long, general manager of Kiplinger.com. “Kiplinger.com’s Tax Map shows that tax rates literally are all over the map—and the difference between living in a high-tax or a low-tax state can be thousands of dollars each year,”

He noted that the tax burden in many states may be greater this year as lawmakers wrestle with how to adjust their to the federal tax overhaul.

The 10 Most Tax-Friendly States:

1. Alaska

2. Wyoming

3. South Dakota

4. Florida

5. Nevada

6. North Dakota

7. Delaware

8. Arizona

9. Mississippi

10. Louisiana

The 2018 Kiplinger Tax Map features comprehensive tax profiles of each state, a list of the 10 most tax-friendly states and a list of the 10 least tax-friendly states, as well as additional roundups including states with the highest and lowest gas taxes, no income taxes, highest sales taxes and more.

The Tax Map is a sister project to Kiplinger’s annual Retiree Tax Map—which reveals senior tax breaks across all 50 states, and compares taxes on income (including Social Security benefits, pensions and other forms of retirement income), property, everyday purchases, and, ultimately, your estate.

Below is the recap on Kiplnger’s:

The Bottom Line
Map of Delaware

Most Tax-Friendly

The First State is a standout among its East Coast neighbors with no sales tax and and low property taxes. Delaware is one of Kiplinger’s top ten most tax-friendly states

Sales Tax

Neither the state nor localities impose a sales tax. In response, New Jersey has halved the sales tax on many items in Salem County, which borders Delaware.

Income Tax Range

Low: 2.2% (on taxable income from $2,001 to $5,000)

High: 6.6% (on taxable income above $60,000).

See Kiplinger.com’s Retiree Tax Map to learn how Delaware taxes Social Security income and other forms of retirement income.

Motor Fuel Taxes

Gasoline: $0.23 per gallon.
Diesel: $0.22 per gallon.

Property Taxes

Median property tax on Delaware’s median home value of $233,100 is $1,274.

See Kiplinger.com’s Retiree Tax Map to learn how Delaware taxes Social Security income and other forms of retirement income.

Vehicle Taxes

At registration, state charges a fee for documentation. The rate is 4.25% of purchase price or NADA book value, whichever is greater.

Sin Taxes

Cigarettes: $2.10 a pack
Snuff: $0.92 per ounce
All other tobacco products: 30% of the wholesale price
Beer: $0.26 per gallon
Wine: $1.63 per gallon
Liquor: $4.50 per gallon
Vapor/E-Juice: $0.05 per mL

 

Inheritance and Estate Taxes

Delaware’s estate tax expired at the end of 2017.

For the full article go to https://www.kiplinger.com/tool/taxes/T055-S001-kiplinger-tax-map/index.php?map=&state_id=8&state=Delaware