Kiplinger.com has revealed its annual list of the most and least tax-friendly states for retirees. There’s bad and good news for Washington: It’s not on either list.
But Washington is rated as “tax-friendly,†in part because it has no income tax and doesn’t tax Social Security benefits.
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, a senior editor for Kiplinger’s. “Retirees and near-retirees can plan ahead and determine which locations fit best based on their sources of income, spending habits and value of their estate.â€
The 10 most tax-friendly states for retirees:
- Wyoming
- Alaska
- South Dakota
- Mississippi
- Florida
- Pennsylvania
- Nevada
- New Hampshire
- Kentucky
- Georgia
The 10 Least Tax-Friendly states for Retirees:
- Minnesota
- Connecticut
- Kansas
- Vermont
- Nebraska
- New Mexico
- Utah
- Maryland
- Indiana
- Wisconsin