North Carolina Praised for Tax Haven for Retirees
Posted on August 24th, 2009 in Uncategorized | No Comments »
State earns high marks as tax haven for retirees
North Carolina is closer to heaven than the other place when it comes to taxing retirees, says Kiplinger.com.
The magazine has an interactive map – www.kiplinger.com/tools/retiree_map – that shows which states tax Social Security benefits, for example, or exempt some or all of retiree income from state taxes.
It lists, by state, sales tax rates, income taxes, property taxes and estate taxes, among others.
“The Tar Heel State is a favorite destination for retirees,” Kiplinger’s Web site says. “Social Security benefits are exempt from state income taxes, and retirement income from federal, state and local government pensions may be excluded, up to $4,000.”
Most states in the Southeast are retiree-friendly, Kiplinger said.
Among the “nightmare” states for retirees is California.
Leave a Reply
You must be logged in to post a comment.