According to Kiplinger's 2014 analysis of state taxes, retirees could find themselves paying state taxes on their Social Security income or laying it out for capital gains taxes, depending on where they live.
In addition, lots of states don't care where your retirement income comes from; they'll expect you to pay them their share.
So, if you're looking for ways to cut expenses in retirement, you might want to stay away from these 10 states, where taxes are definitely unkind to retirees.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.