Politico Morning Tax

An early filing of the day’s tax news

by Lauren French

Source: Politico

DON’T PACK THOSE BAGS JUST YET. Considering a change of scenery? Well the National Center for Policy Analysis is here to help. The conservative think tank released a new state tax calculator to help you factor in an often overlooked cost of moving: state and local taxes. From the release, “The calculator computes the difference in the amount of federal and state income taxes, property taxes and sales taxes you could expect to pay over the rest of your life when you move from one state to another.” And they have examples. According to their calculator, when Peyton Manning left Indiana for Colorado, he lost $172,398 a year in state and local taxes — about $15,197,993 over his lifetime. Check out the calculator here: http://bit.ly/18TS1qP