Texas

Texas is the second-largest U.S. state by both area and population, and the largest state in the contiguous United States. The name, meaning “friends” or “allies” in Caddo, was applied by the Spanish to the Caddo themselves and to the region of their settlement in East Texas.Located in the South Central United States, Texas is bordered by Mexico to the south, New Mexico to the west, Oklahoma to the north, Arkansas to the northeast, and Louisiana to the east. Texas has an area of 268,820 square miles (696,200 km2), and a growing population of 24.7 million residents. Houston is the largest city in Texas and the fourth-largest in the United States, while San Antonio is the second largest in the state and seventh largest in the United States.
      As of 2008, Texas had a gross state product (GSP) of $1.224 trillion, the second highest in the U.S.Its GSP is comparable to the GDP of India or Canada which are ranked 12th and 11th worldwide. Texas’s economy is the third largest in the world of country subdivisions behind California and Tokyo Prefecture. Its Per Capita personal income in 2007 was $37,083, ranking 22nd in the nation. Texas’s large population, abundance of natural resources, and diverse population and geography have led to a large and diverse economy. Since oil was discovered, the state’s economy has reflected the state of the petroleum industry. In recent times, urban centers of the state have increased in size, containing two-thirds of the population in 2005. The state’s economic growth has led to urban sprawl and its associated symptoms.Texas has a “low taxes, low services” reputation.According to the Tax Foundation, Texans’ state and local tax burdens rank among the lowest in the nation, 7th lowest nationally; state and local taxes cost $3,580 per capita, or 8.7% of resident incomes.Texas is one of seven states that lack a state income tax.Instead, the state collects revenue from a state sales tax, which is charged at the rate of 6.25%, but local taxing jurisdictions (cities, counties, special purpose districts, and transit authorities) may also impose sales and use tax up to 2% for a total maximum combined rate of 8.25%[citation needed]. Texas is a “tax donor state”; in 2005, for every dollar Texans paid to the federal government in federal income taxes, the state received approximately $0.94 in benefits.  Read more at Wikipedia

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