Connecticut ranks second on Kiplinger’s annual list of least tax-friendly states for retirees.
In the top 10 “least friendly” list, Connecticut is preceded by Vermont as No. 1 and followed by Minnesota at No. 3.
These 10 states impose the highest taxes on retirees, said Sandra Block, senior associate editor of Kiplinger’s Personal Finance.
“Exemptions for other types of retirement income are limited or nonexistent. Property taxes are on the high side, too. And if that weren’t bad enough, some of these states are facing significant financial problems that could force them to raise taxes, cut services, or both,” a Kiplinger’s summary states.
The analysis shows which of the 50 states offer senior tax breaks and compares taxes on income, property, everyday purchases and estates.
The remaining least friendly states are Oregon, Montana, California, Nebraska, New Jersey, New York and Utah.
Top 10 most retiree-friendly states are Alaska, Wyoming, Nevada, Mississippi, South Dakota, Florida, Georgia, Delaware, Louisiana and Tennessee.
