BSMG Blog: Protecting the Future of Families and Businesses

Taxes on Retirees State by State

Posted by BSMG on 13 Apr 2016

Have you ever wondered how your state stacks up against others when it comes to taxes on retirees. We found this great interactive map by that shows you how the states compare. 

This detailed map lays out taxes on retirement income, property, purchases and tax breaks. Check out some of the stats we found below. 

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A Guide to Retirement Strategies for Tax Efficiency

10 Most and Least Tax-Friendly States for Retirees

Most Tax-Friendly Least Tax-Friendly
  Alaska   Connecticut
  Arizona   California
  Delaware   Minnesota
  Florida   Montana
  Georgia   Nebraska
  Louisiana   New Jersey
  Mississippi   New York
  Nevada   Oregon
  South Dakota   Rhode Island
  Wyoming   Vermont

Related: Do your clients know why Tax Day is April 18th this year?

States That Don't Tax Social Security


Related: 3 Major Trends Pushing Advisors to Employ Innovative Tax Strategies

States That Tax Social Security


Estate & Inheritance Taxes

The map showed 18 states that impose estate and/or inheritance taxes. Of these 18 states almost all of New England are included (except for New Hampshire). 


To dive deeper into these stats check out the map. You can also find which state have the highest top income tax rate and which states have no income tax. 

Topics: Tax Planning, Tax Strategies