If you are planning to move when you retire, look beyond state income taxes to estimate retirement living expenses.
TAXES ANYONE?
States levy taxes on general sales (although some may exempt food or clothing), real estate, rooms and meals, utilities, and even inheritances and estates. So, it’s important to weigh all of these factors and figure how each tax may affect you.
EXEMPTIONS
Some states with the highest income tax rates may exempt Social Security and retirement plan income up to certain limits. Every state has to levy taxes somewhere, so do your homework to learn.