Your golden years are your best years! Make them shine!

  • Home
  • Personal Finance
  • Retirement Life
  • Saving & Spending

8 States With The Highest Income Tax Rates

November 7, 2022 · Enjoying Retirement
live, budget
Image By CK Foto From Shutterstock

#6 Minnesota

The state income tax ranges from 5.35% to 9.85%. The 5.35% applies to married couples that are filing jointly and have a taxable income of a maximum of $41,050 or to married individuals that are filing separately and individual filers that have a taxable income of a maximum of $28,080.

The 9.85% applies to married couples that are filing jointly or to the surviving spouses that have a taxable income of a maximum of $284,810 or to married individuals that are filing separately and individual filers that have a taxable income of a maximum of $171,220. 

Retirees who are concerned about taxes can find some solace in the North Star State. The same amount of taxes apply to Social Security benefits as they do on your federal return, however, taxpayers who receive taxable Social Security benefits may be eligible to deduct several of their payments if their earnings are below a certain threshold. 

Additionally, some seniors qualify for a special income tax deduction. But pensions, aside from those received from the military, are taxable. IRA and 401(k) plan distributions are taxed as well.

Pages: 1 2 3 4 5 6 7 8 9

Share this article

Facebook Twitter Pinterest LinkedIn Email

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • social security numbers, downside
    When Will Your Social Security Checks Arrive? (What Beneficiaries Should Know)
  • Things Seniors Should Always Get from Costco
    8 Kirkland Products That No Longer Feel Like a Costco Bargain
  • medicare
    Medicare Costs Are Rising in 2026 — Here’s What to Expect
  • save money on healthcare
    Could You Qualify For the New $25,000 Health Care Tax Deduction Coming in 2026?
  • Medicare open enrollment
    Missed the Medicare Deadline? Your Options Aren’t Over Yet
  • stimulus check
    Trump Promises $2,000 Tariff Checks: Could You Qualify?

Related Articles

money Ways to Make Extra Money in Retirement, reason, sign, reduce

7 Ways to Make Extra Money in Retirement

Just because you’re retired doesn’t mean you want to stop working. You may want to…

Read More →
retire

8 Best States to Retire With Under $1 Million Saved

6. Wyoming Total cost of living for one year: $32,584 It’s hardly surprising if you…

Read More →
Taxes in retirement. sign

Taxes in Retirement: 7 Questions Retirees Need to Ask Themselves

There’s never too much..

Read More →
Sarasota

Sarasota, Florida: Top 7 Reasons to Retire in This Sunny Place

Have You Ever Been To Sarasota, Florida? Sarasota is one of the most stunning places…

Read More →
pay holiday Biden

14 Things That Were Once Free but You Now Pay for

If something tells you that you are being nickel-and-dimed by the majority of businesses these…

Read More →
exotic retirement

Exotic Retirement! 6 Beautiful Locations for Only $1,500 Monthly

Have you ever considered an exotic retirement as the best choice for your golden years?…

Read More →
single

Single Retirees: Top 10 US Cities That Are Great For You

Are you a single retiree looking for a new home and also for love? Looking…

Read More →
Florida

Ready to Retire in Beautiful Florida? Read These 7 Things First!

Is Florida your favorite place to retire?  This destination is very well-known for retirement. If…

Read More →
income tax, truth

8 Uncomfortable Truths About Retirement People Don’t Speak About

We are all looking forward to what has been dubbed the “golden retirement age,” and…

Read More →
Retired in USA

Your golden years are your best years! Make them shine!

Inedit Agency S.R.L.
Bucharest, Romania

contact@ineditagency.com

Explore

  • Terms and Conditions
  • Privacy Policy
  • Do not sell my personal information
  • Subscribe
  • Unsubscribe
  • Contact
  • CA Privacy Policy
  • Request to Know
  • Request to Delete

Categories

  • Enjoying Retirement
  • Personal Finance
  • Saving & Spending

© 2025 Retired in USA. All rights reserved.