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What are the best states for retirees vis-a-vis income taxes on Social Security and pensions? |
What are the best states for retirees vis-a-vis income taxes on Social Security and pensions? "Currently, 27 of the 41 states (and the District of Columbia) that have broad-based personal income taxes do not tax Social Security benefits. The remaining 14 states with broad-based income taxes, tax Social Security to some extent. Kansas, Minnesota, Missouri, Nebraska, North Dakota, Rhode Island and Vermont tax Social Security to the extent it is taxed by the federal government. Connecticut, Iowa, Montana and Wisconsin tax Social Security income above an income floor. Colorado, Kentucky, New Mexico and Utah require that federally untaxed Social Security benefits be added back to federal AGI to calculate the base against their broad age-determined income exclusions apply." Get the skinny on other aspects of retirement living in the different states at this website: http://www.retirementliving.com/rltaxes.... |
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