2. Arkansas
Arkansas is the 25th southern U.S. state bordering the Mississippi River. The state was formed from part of the land acquired in the Louisiana Purchase.
With a population of about 3 million people, Arkansas is a state where retirees enjoy the leisure of low taxes, specifically on income taxes and property taxes. This mid-sized state also does not tax Social Security, and property taxes are ranked among the lowest in the USA.
Furthermore, Arkansas does not have an inheritance tax. Those retirees who want to pass on some of their capital or affluence to the next generation can do so tax-free, at least at the state level.
Tax-friendly states! Here they are.
8 Responses
I am astounded you have left out NH. Taxes were a primary consideration after I retired from the Army in 1992. We have have NO income tax or state sales tax in our state. Need I say more? In addition we have the lowest state tax on gasoline in New England. The argument that our high property taxes wipe out the other tax advantages does not fly!
Utah would be a much better place to live than Nevada with its dependence upon gambling taxes.
very informative wish that I had known before retiring,
we live in Arkansas and we are at full retirement age. if we still work do we need to have taxes held out of our social security checks
Does anyone have personal experience with retirement in South Carolina? Is it as tax-friendly as it sounds?
Does anyone know if Arizona has an income tax for seniors? I’ve been thinking of moving there to be closer to family, but I would like a first-hand account from someone who retired there!
I’m considering relocating to Colorado. What are the long-term financial implications for retirees?
I’m moving from Florida to North Carolina any suggestions