Which 13 States Don't Tax Retirement Income?
You may retire from work, but you'll never quite retire from paying taxes. How much you'll pay once you retire depends on the state where you reside. Here are 13 states that don't currently tax retirement income.No one in Alaska pays state taxes because it doesn't levy an income tax. That means that you won't face a state tax bill for Social Security benefits, pension income, or 401(k) or IRA distributions.Here's something to keep in mind if you have a sudden urge to move to the Last Frontier, though: Local sales taxes in Alaska can reach nearly 8% in some areas, so you'll need to be careful about exactly where you settle down.Continue reading
You may retire from work, but you'll never quite retire from paying taxes. How much you'll pay once you retire depends on the state where you reside. Here are 13 states that don't currently tax retirement income.
No one in Alaska pays state taxes because it doesn't levy an income tax. That means that you won't face a state tax bill for Social Security benefits, pension income, or 401(k) or IRA distributions.
Here's something to keep in mind if you have a sudden urge to move to the Last Frontier, though: Local sales taxes in Alaska can reach nearly 8% in some areas, so you'll need to be careful about exactly where you settle down.
