Mansions for Sale in Alabama

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General
Alabama is a state located in the southern region of the United States. It is bordered by Tennessee, Georgia, Florida, Gulf of Mexico, and Mississippi. Alabama ranks 30th in total land area and ranks second in the size of its inland waterways. The state ranks 23rd in population with almost 4.6 million residents in 2006.

Economy
According to the United States Bureau of Economic Analysis, the 2006 total gross state product was $160 billion, or $29,697 per capita for a ranking of 44th among all states. Alabama's GDP increased 3.1% from 2005, placing Alabama number 23 in terms of state level GDP growth. The single largest increase came in the area of durable goods manufacturing. In 1999, per capita income for the state was $18,189.

Alabama's agricultural outputs are poultry, eggs, cattle, plant nursery items, peanuts, cotton, corn, sorghum, vegetables, milk, soybeans, and peaches. Although known as "The Cotton State", Alabama ranks between eight and ten in national cotton production, according to various reports, with Texas, Georgia and Mississippi comprising the top three.

Alabama's industrial outputs include iron and steel products (including cast-iron and steel pipe); paper, lumber, and wood products; mining (mostly coal); plastic products; cars and trucks; and apparel. Also, Alabama produces aerospace and electronic products, mostly in the Huntsville area, which is home of the NASA George C. Marshall Space Flight Center and the US Army Aviation and Missile Command, headquartered at Redstone Arsenal.

Taxes
Alabama levies a 2, 4, or 5 percent personal income tax, depending upon the amount earned and filing status, though taxpayers can deduct their federal income tax from their Alabama state tax, which favors wealthier Alabamians who typically pay federal taxes.

The state's general sales tax rate is 4%. The collection rate could be substantially higher, depending upon additional city and county sales taxes. The corporate income tax rate is currently 6.5%. The overall federal, state, and local tax burden in Alabama ranks the state as the second least tax-burdened state in the country. Property taxes are the lowest in the United States. Since Alabama's tax structure largely depends on consumer spending, it is subject to high variable budget structure.

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