Vermont Named #1 Least Tax Friendly State for Retirees

Vermont Business Magazine – Vermont has once again been ranked the nation’s least tax friendly state for retirees. Kiplinger recently revealed its annual list of the most and least tax-friendly states for retirees. In Vermont, the report cites Vermont’s property taxes, income taxes (even on Social Security) and estate taxes as leading to the “#1 least” ranking. Kiplinger’s 2016 Retiree Tax Map reveals senior tax breaks across all 50 states, and compares taxes on income (including Social Security benefits, pensions and other forms of retirement income), property, everyday purchases and, ultimately, your estate. The Northern states generally fall in the least friendly category while the Southern states are most friendly.

“Retirees and near-retirees, particularly those considering a move, will get great use out of the Retiree Tax Map,” said Sandra Block, senior associate editor of Kiplinger’s Personal Finance. “It’s not just what you have—but where you live—that can make all the difference for your golden years.”

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