Here are 10 states that impose some of the lowest taxes
on retirees in the United States,
according to Kiplinger’s Personal Finance
analysis of state tax rules.
In each of these states, social security benefits
are exempted from taxation (and some impose no
state income tax at all). Even military and private pensions
may be exempted in these states.
A few offer exclusions on part of distributed income
from IRAs or 401Ks.
Review all of your sources of income before you
decide which state may be
the best fit for your retirement home.
The most tax-friendly states are:
7. South Carolina
The least tax-friendly states are Connecticut, Vermont, Rhode Island, Montana,
Minnesota, Nebraska, Oregon, California, New Jersey and New York.
Give us a call and we can review your personal situation.