Exploring States That Do Not Tax Retirement Income
Friday, 26 July 2024, 12:30
Overview of Retirement Income Taxation
States vary widely in their taxation of retirement income, making location a key factor in retirement planning.
States with No Retirement Income Tax
- Alaska - No state income tax.
- Florida - No state income tax.
- Nevada - No state income tax.
- New Hampshire - No tax on retirement income.
- South Dakota - No state income tax.
- Texas - No state income tax.
- Washington - No state income tax.
- Wyoming - No state income tax.
- Tennessee - No tax on retirement income.
- Mississippi - No tax on retirement income.
Conclusion
Choosing a state that doesn’t tax retirement income can lead to significant financial advantages in your retirement years. It’s essential to weigh these benefits when determining where to live after retirement.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.