TAX BENEFITS OF LIVING IN DELAWARE
As if you didn’t need more reasons to move to Delaware, the tax benefits for residents in our state are incredible. Here’s why:
- Delaware is one of five U.S. states that levies no sales tax of any kind.
- Delaware’s income tax rates are relatively low.
- Social security income is not subject to state income tax, nor is the first $12,500 of investment or pension income.
- According to the Tax Foundation, Delaware’s property tax burden is one of the eight lowest in the nation.
- Delaware residents don’t have to worry about high property taxes driving them out of their idyllic beachside homes.
- Finally, Delaware boasts a favorable tax structure for trusts that can be utilized to bring even more tax benefits to its residents.
