Why does Texas not have to pay personal income tax?

Texas does not have to pay personal income tax, which has its own complex political, economic and cultural factors.

Texas advocates small government, conservative government spending, and its economic development is better than other states in the United States. The income of the government and residents is not low. Moreover, the local area strongly advocates low taxation and will not collect taxes if possible. There have also been cases where tax surpluses were returned to taxpayers. Texas is one of the few states without a state personal income tax.

Among the 50 states in the United States, only 7 states are exempt from personal income tax. They are Alaska, Florida, Nevada, South Carolina, Texas, and Washington. state and Wyoming. Moreover, no personal income tax is also a policy that helps Texas attract outstanding immigrants. For example, the choice of many NBA stars to transfer to Texas was affected by this policy.

Extended information:

Texas occupies an important position in the U.S. economy, with GDP in 2012 reaching US$1,397.4 billion (Texas grew by 4.8% year-on-year, the highest growth rate in the United States) Second), accounting for 9% of the total economic output of the United States, ranking second among the 50 states in the United States. It is known as the "leader" in the US economic recovery. Historically, the cattle industry was developed, and Texas is still famous for its cowboy image.

The discovery of oil in the early 20th century led to economic prosperity. Since the 1980s, the economy has developed diversified and high-tech industries have emerged. Texas' energy, petrochemical, agriculture, electronics, aerospace, biomedicine and other industries are all relatively developed. Fifty-seven of the Fortune 500 companies are located in Texas.

Texas in the United States originally belonged to Mexico. Before 1821, Texas was part of the Viceroyalty of New Spain (Spanish colony). After Mexican independence, Texas became part of the Mexican state of Coahuila y Tejas. Starting in the 1820s, a large number of American immigrants poured into Texas.

On December 20, 1835, Texans signed the first Declaration of Independence in Goliad. Later, the Mexican government banned the existence of slavery. These slave owners were dissatisfied, so Texas officially declared independence on March 2, 1836, and established the Republic of Texas.

The United States recognizes the Republic of Texas, but Mexico does not recognize the independence of Texas and declares that it will re-annex Texas to its territory. Texas maintains its independent stance and emphasizes that the Rio Grande is its border. . British attempts to mediate the dispute were unsuccessful because Mexico refused to recognize Texas.

In 1845, the United States announced that if the Republic of Texas was willing to join the United States, the United States would recognize the Rio Grande River as its border. In the same year, Texas joined the United States and became the 28th state of the United States.

References:

Baidu Encyclopedia--Texas