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News Article

Tax Friendly States

Tax Friendly States
South Dakota has been named the #3 most-friendly tax state for retirees
News Staff - November 17, 2017

Washington, D.C. (November 16, 2017)—Kiplinger.com has revealed its annual list of the most and least tax-friendly states for retirees. Kiplinger’s 2017 Retiree Tax Map—available at Kiplinger.com/links/retireetaxmap—reveals senior tax breaks across all 50 states, and compares taxes on income (including Social Security benefits, pensions and other forms of retirement income), property, everyday purchases and estates.

 

“Where you live in retirement matters just as much to your tax bill as what you have,” says Sandra Block, Senior Editor, Kiplinger’s Personal Finance. “Retirees and near-retirees can use Kiplinger’s Retiree Tax Map to plan ahead and determine which locations fit best based on their sources of income, spending habits and value of their estate.”

 

 

The 10 Most Tax-Friendly
States for Retirees:

1.    Wyoming

2.    Alaska

3.    South Dakota

4.    Mississippi

5.    Florida

6.    Pennsylvania

7.    Nevada

8.    New Hampshire

9.    Kentucky

10.  Georgia

 

The 10 Least Tax-Friendly

States for Retirees:

1.    Minnesota

2.    Connecticut

3.    Kansas

4.    Vermont

5.    Nebraska

6.    New Mexico

7.    Utah

8.    Maryland

9.    Indiana

10. Wisconsin

 

 

The Retiree Tax Map is a sister project to Kiplinger’s annual Tax Map—which outlines each state’s income taxes, sales taxes, gas taxes, “sin” taxes (for products such as alcohol and tobacco) and other tax rules and exemptions. The 2017 Tax Map launched in October.


The 2017 Retiree Tax Map features comprehensive retiree tax profiles of each state, profiles of the 10 most tax-friendly states for retirees and the 10 least tax-friendly states for retirees, and additional roundups including lists of states that tax Social Security benefits, states with estate and inheritance taxes, and much more.



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