State Income Taxes
"It's income tax time again, Americans: time to gather up those receipts, get out those tax forms, sharpen up that pencil, and stab yourself in the aorta."
Dave Barry, humorist and writer
Dave Barry, humorist and writer
Mid-Atlantic States:
(Delaware, Maryland, Virginia, Pennsylvania, New Jersey & Connecticut)
Why Retire to a Tax-Friendly state?
Some Baby Boomers are just "tax refugees" seeking to supercharge their retirement income. For most though, low taxes is just the beginning. They're also looking for a total lifestyle experience that allows them to pursue their dreams to the max as well. They want access to great medical care, educational and cultural activities, charitable and volunteer opportunities plus a whole lot more.
For those considering Delaware, you can add these things to the list as well:
- Soft sea breezes and sandy beaches,
- Wonderful restaurants with incredible seafood,
- Picturesque marinas, and
- Magical sunsets and more.
Taxes & Cost-of-Living:
Click on the link below for a side-by-side comparison of income taxes and the overall cost-of-living in Delaware vs. Maryland, Pennsylvania, Connecticut, New Jersey & Virginia including:
- Social Security,
- Retirement plans,
- Sales, real estate and personal property taxes,
- Estate & inheritance taxes.
The USA:
(state-by-state listing)
Key Findings Across the USA
A recent report by the Tax Foundation, the leading independent tax policy research organization found the following:
• Individual income taxes account for 37 percent of state tax revenues.
• Forty-three states levy individual income taxes.
Click on the link below for a state-by-state listing of income taxes for all 50 states. Start on page 5 with an income tax heat map of the USA. Then just scroll down until you find your state.