Breaks on pensions
It seems that some states also offer breaks on pensions, as long as they’re not 401(k) or IRAs. Alabama has a total of 5 percent income tax, and income from pensions is usually exempt.
Income from defined contribution plans, like IRAs, isn’t completely exempt, but the good news: starting in 2023, there will be a $6,000 annual exemption. Hawaii has a whopping 11 percent top income tax but doesn’t have any tax pension distributions. You will have to pay taxes on your contributions, and any other gains from those contributions when you take the withdrawals.
As for other states, they seem to limit how much retirement income is taxable. For instance, Arkansas exempts $6,000 of private or public employee retirement income, but also all military and railroad retirement income.
What are the best states for retirement?
How many people live too be 100 and if you do you’re too dam old.
I never saw the 7 states listed anywhere in this article rife with ads & other distractions!
No it is that the politicians and lobbyist make so much income they think all the lower level job people include retiree have the same amount of disposable income so they take care of their life style and the hell with those who pay their salaries. So get rid of the many lobbyist and their pushing agenda paying politicians and the politicians might just working for the tax payer again. know what a dollar will by when you only have a dollar.
Florida also has no state income tax
Democrats love to TAX productive Americans so they can BUY the votes of unproductive people with handouts. The Hasidic n NY have 8 and more children and SCAM every government program by not being married by the state (only married by their rabbi) so they can claim to be ‘unwed mothers’. The whore politicians say nothing because they want their ‘block vote’.
You have an omission: Rhode Island DOES NOT TAX Miltary pensions.
Where are your 7 states ?
New Mexico exempts $35K of military retirement benefits from state income tax. Also, any portion of Social Security benefits taxed by the federal government, is exempt from state income tax. If you live to be 100years old, you are also exempt from all state income taxes!
Three states with extremely cold temperatures and ice to slip and fall on.
Want to shovel snow at 70? Want to slip on ice at that age or older?
Nope.