James Clifton, NDSU assistant professor of accounting practice, is featured in a recent MoneyGeek article titled “How Tax-Friendly is Your State?” by journalist Jeff Ostrowski.
In its study, MoneyGeek analyzed tax costs across all 50 states to measure the tax burden by considering sales, income and property taxes.
Clifton was one of 44 experts from across the country who were quoted in the story.
He answered several questions, including:
• What tax implications should someone consider if they are moving from one state to another?
• What factors determine where your true home is?
• How does working remotely affect one’s taxes?
“To get a good tax picture of the state you are moving to, you need to consider their sales, property, and state and local income taxes,” Clifton said in the article. “Does the state you are moving to have a sales tax (only four states don't)? If they do have a sales tax, what are the state and local rates and what types of transactions are subject to it? For example, North Dakota has a sales tax on sales of almost all tangible products, but they don't have a sales tax on groceries or most services.”
The MoneyGeek study found that “For a typical middle-class family, the difference between living in the highest-tax state in our rankings – Illinois – and the lowest – Wyoming – is nearly $10,000 a year.” MoneyGeek ranked North Dakota seventh lowest among the states for an average annual tax bill.
Clifton is a certified public accountant and certified fraud examiner. He earned his bachelor’s degree and Master of Accountancy from the University of North Dakota, Grand Forks.
Some of his honors include the 2016 NDSU Service Learning Award, 2015 Green and Golden Globe Diversity Award, Bison Ambassadors’ Apple Polisher Award, 2010-2013 Eisele Teaching Fellowship, 2010 Odney Award for excellence in teaching, 2008 Innovations in Accounting Education Award by the American Accounting Association and 2006 Hubbard Award from the Association of Certified Fraud Examiners.
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