Kiplinger’s ranks Nevada seventh among states deemed retiree tax havens
Nevada ranks seventh among the states deemed most tax-friendly for retirees, according to Kiplinger’s 2013 general retiree tax map.
Alaska ranks at the top, followed by Wyoming, Georgia, Arizona, Mississippi and Delaware in beating the Silver State. Trailing Nevada in the top 10 were Louisiana, South Carolina and Florida, in that order.
Kiplinger’s said with the 2013 edition of the annual map, baby boomers and other retirees have access to the most interactive and easy-to-use guide for such information on the web. It is available at Kiplinger.com.
It presents each state’s income taxes on investment income, retirement plan distributions and Social Security benefits, plus a rundown of sales taxes, property taxes, as well as estate and inheritance taxes.
Also ranked were the least tax-friendly states. They were, first through 10th, Rhode Island, Vermont, Connecticut, Minnesota, Montana, Oregon, Nebraska, California, New Jersey and New York.
The magazine’s Web editor also provided a bit of advice.
“When reviewing state tax breaks,” Kiplinger.com Managing Editor Robert Long said, “retirees should evaluate their type of retirement income and then consider states that favor that specific category.” He said the map allows users to explore options and gauge locations that might benefit them financially.