This website is a member of Liberty Alliance, which has been named as an company.

10 Least Tax-Friendly States for Retirees

Thursday, September 13, 2012

least tax friendly

Some states offer attractive tax benefits to woo retirees.

Then there are these ten states that are stingy with tax breaks for retirees. Some don’t offer any breaks on Social Security benefits — a significant source of most retirees’ income. Many of these states also have no special tax treatment for other types of retirement income. Others impose higher-than-average taxes across the board. And many have either an estate tax or inheritance tax.

1 CONNECTICUT

State Income Tax: 3% to 6.7%
State Sales Tax: 6.35% to 7%
Estate Tax/Inheritance Tax: Yes/No

2 VERMONT

State Income Tax: 3.55% to 8.95%
State Sales Tax: 6%
Estate Tax/Inheritance Tax: Yes/No

3 RHODE ISLAND

State Income Tax: 3.75% to 5.99%
State Sales Tax: 7%
Estate Tax/Inheritance Tax: Yes/No

Post Continues on finance.yahoo.com

Posting Policy
We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse. Read more.