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ideal-LIVING
Retirement Blog

Tax Friendly States

Fall_TaxImageFind Your Ideal Living Location in The Most Tax Friendly States

Planning your retirement is an important life decision. After all, you have worked hard for it, so you want to make the most of the opportunity. Deciding on all the personal preferences you want in your retired life comes first—golf courses, fitness centers, the beach—but once that is figured out it is time to move on to the less thrilling, but equally important side of things. Money. You want to make sure you are getting the most for your dollars, so moving to a state with lower taxes or states with no retirement income tax at all is something to look into.

Benefits of Tax Friendly States

Alaska is the only state without state income tax or sales tax. As appealing as that sounds, most retirees are not looking to move to a place with true winters. Instead, they are looking to move to a place that is warmer, with less intimidating winters. Despite the attractive tax offer in Alaska, other states are becoming more tax friendly and are changing tax rates and exemptions to attract “amenity migrants.” Texas and Florida take the lead tax-wise as states with no retirement income tax at all, and Tennessee follows closely, only taxing dividend and interest income. Both Georgia and North Carolina have made significant changes to their taxes recently, angling their tax benefits to attract more retirees who want to live in tax friendly states. Most states specifically exempt Social Security and pensions from taxes, which is an attractive feature for retirees who receive a bulk of their income through those means. Below is a table offering a quick look at several most friendly tax states and how they compare to each other tax-wise.

State Income Tax Sales Tax Social Security
North Carolina 6-7.75% 4.75% Exempt
Florida None 6% Exempt
Georgia 1-6% 4% Exempt
Tennessee None (only dividends and interest) 7% Exempt
Texas None 6.25% Exempt
South Carolina 3-7% 6% Exempt
Virginia 2-5.75% (Statewide local rate of 1%) 4% Exempt
Delaware 2.2-6.75% None Exempt

Communities from Tax Friendly States Will Be at Upcoming Expo

The majority of the states listed above are warm weather states, which is a big factor in deciding where to retire. People want warm weather. But based on their income tax, these states are also favorable when it comes down to your money, and how much of it you will have in order to enjoy your new living environment. However, this is just a small sample of information on tax friendly states. At the ideal-LIVING Resort and Retirement Expo, there will be 8, tax friendly states present (NC, VA, DE, GA, SC, TN, MD, FL), ready to answer your tax questions more in depth. But it is not just tax information at the Expo. It is an in depth look the places you are considering retiring to, and the communities within. It is an experience you do not want to miss out on when seeking out where to retire!

(Source: Kiplinger.com)


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Grande Dunes

Grande Dunes

Myrtle Beach, South Carolina

This is Grande Dunes, a unique and elegant community of luxurious natural beauty featuring an ideal club lifestyle including golf, tennis, fitness, a private marina, superb dining and private beach access, with breathtaking homes designed for just such a place, all located within the heart of Myrtle Beach.
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SC


SweetBay

SweetBay

Panama City, Florida

Alongside more than five miles of bay-front shoreline in northwest Florida lies the perfect coastal community. A place where the best of nature meets the best of neighbors. A place where every square foot of your home, your neighborhood and your favorite gathering spot was overseen with masterful planning and architectural design. At SweetBay, we see things differently.
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FL


Southern Springs by Del Webb

Southern Springs by Del Webb

Spring Hill, Tennessee

55+ Community Near Nashville TN is Southern Springs by Del Webb this Active Adult just South of Nashville is full of amenities and outdoor and indoor fun!
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TN


Compass Pointe - North Carolina Coastal Communities

Compass Pointe - North Carolina Coastal Communities

Leland, North Carolina

Compass Pointe is more than a community. It's a destination. Only 10 minutes from historic downtown Wilmington, NC, and 20 minutes from Wrightsville Beach, it is the very best of coastal North Carolina.
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NC


Plantation Bay Golf and Country Club — Florida Golf Communities

Plantation Bay Golf and Country Club — Florida Golf Communities

Ormond Beach, Florida

An abundance of sparkling new facilities take this prestigious private community to luxurious new heights, with two clubhouses, a magnificent 7,000-square-foot Spa and Fitness Center, 10 tennis courts and 45 holes of golf to challenge and delight players of all levels. Plantation Bay is the perfect place to get pampered, stay in shape and play, all right in your back yard.
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FL


Live Sarasota

Live Sarasota

Lakewood Ranch, Florida

We are your full service real estate connection to the Gulf Coast - Tampa, St.Pete, Lakewood Ranch, Bradenton, Sarasota, Siesta Key, and Venice Florida. As Buyers' agents, with 30+ combined years of local knowledge and experience- we are your advocate as well as your advisor, with NO COST TO YOU.
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FL


Summerhouse on Everett Bay - North Carolina Coastal Community

Summerhouse on Everett Bay - North Carolina Coastal Community

Holly Ridge, North Carolina

A New Season Has Begun at Summerhouse. Imagine a warm, welcoming home where luxury meets coastal casual and the ocean is just beyond your front door. A community where you can go kayaking on the Intracoastal Waterway in the morning, relax by the resort-style clubhouse pool with friends in the afternoon, and check your crab pots for dinner at sunset! All this with the seaside village of Surf City and Historic Wilmington, NC nearby.
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NC


Savannah Quarters  - Modern Savannah Living.

Savannah Quarters - Modern Savannah Living.

Pooler, Georgia

Developed by Freehold Communities, Savannah Quarters, Savannah Quarters is a master planned community ideally located less than 15 minutes from the center of historic Savannah, GA.
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GA


Wendell Falls

Wendell Falls

Wendell, North Carolina

Wendell Falls is based on new thinking about ways to live. We like to say it's where small-town community meets big-city urbanity. With artfully crafted new homes from the $230s to $600s. A growing town center with shops, restaurants and more. Inspiring parks. And miles of trails.
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NC


Medley at Southshore Bay

Medley at Southshore Bay

Wimauma, Florida

Medley at Southshore Bay is designed especially for active adults who want the best life has to offer. The rich variety of amenities include a Metro lagoon by Crystal Lagoons, with 5.5 acres of crystal-clear blue waters, ideal for swimming and kayaking. Residents will enjoy private amenities including a social clubhouse, resort-style pool and tiki bar, a dog park, walking trails, golf-cart paths and more!
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FL


Del Webb Naples - Active Adult Florida Community

Del Webb Naples - Active Adult Florida Community

Ave Maria, Florida

Del Webb Naples is a 55+ active adult community located within the vibrant master-planned community of Ave Maria, near renowned Naples, Florida. Discover the world-class amenities, an 18-hole championship golf course, and extensive community events and social functions, providing an unparalleled lifestyle.
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FL


Riverlights

Riverlights

Wilmington, North Carolina

Enter the home of your dreams and the lifestyle you crave in RiverLights ™, Wilmington's newest waterfront community. Designed to foster a coastal, wellness-centered environment, RiverLights offers the energy of a city amid miles of tranquil beauty. Set along the naturally magnificent Cape Fear River, it's a new kind of community that celebrates family, honors nature and breathes new life into Southern heritage.
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NC


Rarity Bay

Rarity Bay

Vonore, Tennessee

Rarity Bay on Tellico Lake is an award-winning gated lakefront community that combines waterfront living with mountain views and amenities that include a country club, championship golf course, tennis and pickleball facilities, swimming pool, community docks, horseback riding, hiking trails, and more. Come be a part of it and make the majestic Smoky Mountains and serene, clear waters of Tellico Lake the backdrop for your vacation home, second residence or forever home.
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TN


Lakes of Mount Dora - Central Florida 55+ Community

Lakes of Mount Dora - Central Florida 55+ Community

Mount Dora, Florida

Lakes of Mount Dora has been selected among the Top 50 Best Master-Planned Communities in the United States by Where To Retire Magazine! Combining Southern hospitality with small town charm, this 55+ active adult community was developed with a special vision in mind - to create a unique place where people can live in a central Florida waterfront home with classic Florida architecture near one of the most impressive small towns in the country.
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FL


Vista at Blacksmith Run

Vista at Blacksmith Run

Hendersonville, North Carolina

Nestled between Historic Hendersonville and Lake Lure's picturesque coves is Vista at Blacksmith Run-an exclusive Western North Carolina mountain property designed for residential development. Blacksmith Run's secluded mountain lifestyle and four season climate turns an ordinary day into an unforgettable experience. With convenient access to all of Western North Carolina's treasures, this quiet mountain gated community was developed for those who appreciate the best that life has to offer.
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NC


Cresswind Charleston

Cresswind Charleston

Summerville, South Carolina

Cresswind Charleston brings the award-winning Cresswind active adult lifestyle to the Charleston area. This gated community is integrated within the thriving community of The Ponds while maintaining its own privacy. Cresswind features a full list of resort-style amenities, all located within a natural, Lowcountry setting. Residents can take a short walk to the 12,000-square-foot clubhouse, enjoy pickleball and tennis or participate in activities at the event lawn and amphitheater.
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SC


Eastman Community Association

Eastman Community Association

Grantham, New Hampshire

This 3,600 acre lakeside community is tucked in the Upper Connecticut River Valley in the Dartmouth-Lake Sunapee Region. Two hours north of Boston and minutes from Lake Sunapee, New London, Lebanon and Hanover, residents have easy access to medical facilities, employment, educational opportunities and a multitude of cultural venues.
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NH


TAO Mexico

TAO Mexico

Akumal, Q.R., Mexico

TAO Mexico is one of the premier developers of real estate in the Riviera Maya, with more than 15 residential communities located in Tulum, Playa del Carmen, Akumal, and more. TAO embodies a philosophy of love and care in every community.
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MEX


Del Webb Bexley

Del Webb Bexley

Land O Lakes, Florida

Del Webb Bexley is a 55 Plus Active Adult community near Tampa in Land O Lakes FL. Love life to the fullest in this gated, master-planned community. Enjoy the coastal life of Florida.
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FL


Sunset Ridge

Sunset Ridge

Ocean Isle Beach, North Carolina

Sunset Ridge is located in Sunset Beach, North Carolina and has been one of Bill Clark Homes' longstanding flagship communities. At its completion, it will showcase just over 400 single family homes and is planned for 100 townhomes. Just 3 miles from the Sunset Beach barrier island, Sunset Ridge offers its residents the easy access to both the beach and the Intracoastal Waterway all at a very affordable price point.
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NC


Latitude Margaritaville Watersound

Latitude Margaritaville Watersound

Panama City Beach, Florida

Latitude Margaritaville Watersound is located on Northwest Floridas Emerald Coast between Pensacola and Panama City. A full range of lifestyle components is nearby, including an enticing array of dining, shopping, entertainment, cultural and recreational opportunities as well as service businesses, medical offices, hospitals and more.
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FL


River Dunes

River Dunes

Oriental, North Carolina

River Dunes is an award-winning coastal retreat on the coast of North Carolina. You'll find big water, big views, and big adventure here. River Dunes offers the best in coastal living and year-round boating, set in an unparalleled location with fourteen miles of shoreline on the big waters of the Pamlico Sound, Intracoastal Waterway and Neuse River.
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NC


Mount Vintage

Mount Vintage

North Augusta, South Carolina

Mount Vintage is a well-established 2,000 acre private community conveniently located just a few miles from Augusta, GA and Aiken, SC. Carefully planned to enhance the natural beauty and tranquility of this setting...it is truly one of a kind.
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SC


Compass Premier Realty Ambergris Caye

Compass Premier Realty Ambergris Caye

San Pedro, Belize

Excellent retiree program - buyers are eligible for tax benefits, including exemptions on retirement income. Ambergris Caye is the number 1 tourist and retirement destination in Belize and one of the top retirement destinations in all of the Caribbean and Central America . We have seen a constant increase in tourism to the country.
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BLZ


On Top of the World Communities - Florida 55+ Communities

On Top of the World Communities - Florida 55+ Communities

Ocala, Florida

Renowned for beautiful homes and an unrivaled method that combines top-notch programming, talented staffing and incredible amenities, On Top of the World Communities in Ocala, FL, is truly a leader in creating quality lifestyles
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FL


Windward at Lakewood Ranch

Windward at Lakewood Ranch

Sarasota, Florida

Windward at Lakewood Ranch is a picturesque community centered around a British West Indies design theme along with colonial Dutch enhancements. Island palm trees, lush landscaping and scenic sunrises are present at Windward. Outdoor enthusiasts will enjoy gathering at the resort-style swimming pool, on pickleball or tennis courts, and walking furry friends at the dog park. Come see all Windward at Lakewood Ranch has to offer!
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FL


St. James Plantation - NC Gated Community

St. James Plantation - NC Gated Community

Southport, North Carolina

With its private oceanfront beach club, 81 holes of signature golf and Intracoastal Waterway marina, St. James Plantation personifies the relaxed coastal Carolina lifestyle.
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NC


Flowers Plantation

Flowers Plantation

Clayton, North Carolina

This award-winning community in Johnston County is located minutes from Raleigh, but still very much away from the urban bustle. Flowers Plantation now features more than 40 unique neighborhood developments, over 10 miles of walking trails, 50 acres of lakes and two elementary schools.
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NC


Landfall - North Carolina Premier Gated Communities

Landfall - North Carolina Premier Gated Communities

Wilmington, North Carolina

Located within Wilmington, Landfall is North Carolina's most diverse and historically interesting coastal community. A distinctive property of over 2,000 acres with lakes, ponds and four miles fronting on the Intracoastal Waterway and Howe's Creek, Landfall is only five minutes from Wrightsville Beach and the Atlantic Ocean.
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NC


Jasper Highlands - Tennessee Gated Communities

Jasper Highlands - Tennessee Gated Communities

Kimball, Tennessee

Welcome to Jasper Highlands, a unique residential mountain community, nestled along the bluffs of Jasper Mountain in Tennessee. This remarkable piece of residential real estate is positioned above the clouds with majestic views of Lake Nickajack and the Tennessee River Valley, with property taxes starting at $162.10 a year!.
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TN