Wyoming
Wyoming is a tax-friendly retirement destination with beautiful scenery, national parks, and tiny towns. The Cowboy State’s retirement income policies may attract retirees.
Wyoming has no income tax. All income, including Social Security, pensions, and 401(k) and IRA payouts, is free from state taxes. This tax-friendly technique may help seniors enjoy more of their money.
Wyoming offers retirees various tax advantages than retirement income. Retirees who want to leave their possessions to their children pay no estate or inheritance taxes in the state. The state sales tax in Wyoming is 4%, while municipal taxes may raise it to 6%.
Wyoming retirees should also consider tax factors. Depending on county and property valuation, the state’s property taxes might be considerable.
Lou Masko, I’m a florida native, and it is entirely untrue that you don’t pay property taxes after 25 years
You forgot the state of Washington. We don’t have a state income tax for people who earn less than $1 million a year
attention imbeciles! Duh, the article is titled “12 States That Won’t Touch Your Pension, 401(k), or Social Security” that means they don’t tax those 3 forms of income…what it doesn’t mean is that you get out of paying property taxes, flood insurance, home insurance, etc…Jesus, how f____n’ stupid can you be!
How come you only showed Alabama show the other states too
I’ve been in my Florida home for 34 years and I’m now 63. I’ve never heard of what you are saying about not paying property taxes after 25 years and being 65. Is this something new ?
you still pay property taxes if you own your home over 25 years. I am 77 and have lived in my home 26 years and pay over 3000 a year in taxes. Get your facts straight.
Thats what I would expect coming from a wanta B USCG sailor. Puddle Jumper DC 2nd class. 😆 🤣 😂 😹
We moved to Florida from Illinois where property taxes are 1/3 of that in Illinois based on the property value. No tax on groceries or medications. Vehicle stickers are 1/4 the cost compared to Illinois. If you own a home for 25 years in Florida and are 65, you pay no property taxes. I can go on and on about how less you are taxed in Florida compared to Illinois plus you don’t need a snow shovel.
We left Illinois as taxation is too high for everyone, including retirees, and moved to Florida because we heard there was no state tax and cost of living was lower. We should have done more research. Between taxes and insurance Florida has been no bargain either.
Florida has figured out how to compensate in other ways. Counties take out unapproved loans with us as guarantors, and they do try to levy sales tax increases (for school buildings and pornography books) and Sheriff’s office issues (like new offices – when unused county offices are like rabbits here, and their own new range). They tax your pensions and SS if you make too much of either, and 401(k)s also. AND. Florida has taken overdevelopment of its fragile ecosystems to the point where there is not enough potable water available for those of us already living here. If you are moving here, for your own sake
reconsider. Many counties are dumping so much fertilizer and bug control chemicals directly into the waterways that they and the aquifers are contaminated, as well as allowing Cemex and other major corps to allow runoff from the quaries to drain into the aquifers and Not require them to prevent it or clean it up after the fact! Yup. You might want to look elsewhere. Not much clean water anywhere in Florida any more. And you will be paying for infrastructure with your pensions here as developers are not always required to do so. And don’t forget Insurance! Florida is, if it isn’t already, going to require Everyone in Florida to carry flood insurance. Have a nice day! Hopefully elsewhere if you read this in time!