Ahead of the Senate hearing on “Offshore Profit Shifting and the U.S. Tax Code,” I released a report reminding us that contrary to the perception created by these types of political spectacles, corporations pay a...
- Atlanta Journal Constitution Blog Uses Tax Foundation's Proper...
Atlanta Journal Constitution Blog Uses Tax Foundation's Property Tax Data
by Henry Unger
Georgia came in sixth on a new list of the most tax-friendly states for retirees, according to a report by Kiplinger's Personal Finance magazine.
Wyoming was ranked No. 1 and Vermont came in last.
Social Security income is exempt in Georgia, and so is up to $35,000 of most types of retirement income if you're at least 62, Kiplinger's said in its report.
"Beginning in 2012, taxes on retirement income will be phased out" in Georgia, Kiplinger's said. "The statewide sales tax is 4 percent, but local jurisdictions can add up to 4 percent of their own taxes. Full-time residents qualify for a homestead exemption, and residents 65 and older may qualify for additional deductions from property taxes."
Most tax-friendly states for retirees
9. New Jersey - tax policies are thorns for some retirees. Its median real estate taxes are the highest in the nation, according to the Tax Foundation.
Maryland Gov. Martin O’Malley’s office took a swipe at a grass-roots citizens’ group over a report claiming people are leaving Maryland for Virginia, beginning a fight in cyberspace between the governor, the citizens’ group and an established...
Ask a Tax Expert
Contact information for Tax Foundation policy staff Ask
Join the Tax Foundation's fight for sound tax policy Go
Tax By State
For information on your state, select it from the drop-down menu.