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June 2011

10 Tax-Unfriendly States for Retirees 2011

Some states offer attractive tax benefits for retirees (SLIDE SHOW: 10 Tax-Friendly States for Retirees). Then there are these ten tax hells, which have earned a place on our "do not live here for your second act" list either because of higher-than-average taxes across the board or because of policies that don't exempt much retirement income from state taxation. For retirees living on a fixed income, high income taxes, burdensome real estate taxes and hefty sales taxes on daily purchases can really eat into a nest egg. Choosing to relocate to -- or stay put in -- a state with a low overall tax burden can help stretch your retirement income.

By Mary Beth Franklin



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