Alaska
It may not be the first place your mind goes to when you are thinking about moving from your home state for your golden years, but the Last Frontier state is not one to write off very easily. Not only are they joining most states in the effort of eliminating the social security benefits tax (as they do not impose this one), but they are also making sure you are keeping all your retirement income with no intervention at a state level.
Alaska does not have an income tax, and this includes any income you may be getting from pensions, IRAs, or 401(k) plans. What’s more, they do not have any inheritance or estate taxes! It may not be the warmest place in the United States, but being one of the states that have so few taxes when it comes to retirees’ incomes, we think you should warm up to it.
9 Responses
So much more needs to be considered when deciding where to retire. I have noticed a huge disparity in property taxes from state to state & sometimes towns or counties within the state. Maybe you’re not being taxed on retirement income but would pay a premium on property taxes & medical expenses etc. For example, Florida has no income tax but their property taxes are quite high as are condo dues if you’re living in an HOA. Do your research!
So, if the only income you’ve only received in 2022 was income for SNAP food services, must that be an actual income?
This would be a good article if a person did not have to click through page after page. This all could have fit on one page.
Wow…Texas?
Very very high real estate taxes
thanks for the information it is very useful
What about Kansas?
I thought Florida was one of the states that didn’t tax seniors
Good to know.