ideal-LIVING Retirement and Relocation 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)


Request information from these Tax-Friendly Communities

Del Webb Sunbridge

Del Webb Sunbridge

St. Cloud, Florida

The 55+ active adult community of Del Webb Sunbridge is coming soon to Orlando, Florida! Located just 5 miles from Lake Nona and Medical City, this exciting community will offer Single Family Homes and Villas, along with resort-style amenities.
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FL


Bella Vista - Arkansas Private Community

Bella Vista - Arkansas Private Community

Bella Vista, Arkansas

Bella Vista is a private 36,000-acre, Member-based recreational community in Northwest Arkansas offering seven golf courses, seven stocked private lakes, swimming pools, tennis courts, trails, parks, pavilions, recreation centers, a gun range, an RV Park and many other amenities. Bella Vista was recently ranked one of America's Top 10 Best Healthy Places to Retire by U.S. News & World Report and one of the Top 25 best places for affordable homes by CNNMoney.com and Money Magazine.
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AR


Logan Homes - Home Builders in Premier North Carolina Communities

Logan Homes - Home Builders in Premier North Carolina Communities

Leland, North Carolina

Logan Homes offers 80+ beautiful home plans, tons of choices, quality craftsmanship, energy efficiency and the innovation that will enhance your lifestyle - all for a very smart price.
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NC


Encore at Viridian

Encore at Viridian

Arlington, Texas

Encore by David Weekley Homes will soon offer a new 55 plus lifestyle community in Arlington, TX. You will shortly be able to enjoy thoughtfully-designed one-story homes and bright, open floor plans.
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TX


Albemarle Plantation - North Carolina Gated Communities

Albemarle Plantation - North Carolina Gated Communities

Hertford , North Carolina

On the North Carolina's Inner Banks is a golf and marina community with a lifestyle like no other! Perched between historic Edenton and Elizabeth City, NC, it's an easy drive to any major city along the coast going north or south. With easy access to Tidewater Virginia and the Outer Banks of North Carolina, you will experience small town charm and big city culture at its finest.
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NC


K. Hovnanian's  Four Seasons at Orlando

K. Hovnanian's Four Seasons at Orlando

Kissimmee, Florida

Four Seasons at Orlando is a 55+ community in Kissimmee, Florida. This active adult community is situated within the 600-acre Mystic Dunes Resort & Golf Club, offering a championship golf course, recreation, and an array of amenities and activities. Planned amenities include a 12,000-square-foot clubhouse with swimming pool, fitness center, a card room, arts & crafts room, a cafe and more.
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FL


Cresswind at PGA Village Verano

Cresswind at PGA Village Verano

Port St. Lucie, Florida

Cresswind at PGA Village Verano is a 55+ gated neighborhood within the gates of PGA Village Verano. This new age-restricted neighborhood features four unique floorplans, exclusive to Cresswind at PGA Village Verano. Cresswind neighbors enjoy access to Club Talavera's amenities including a 27,000 sq. ft. Social Center and 13,000 sq. ft. Fitness Center, as well as its own neighborhood pool and pool house. The social clubs and full-time Lifestyle and Activities Director make it easy to try new activities along with meeting your neighbors and lifelong friends
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FL


Colleton River Club

Colleton River Club

Bluffton, South Carolina

Lowcountry luxury lies at the base of Hilton Head's bridge at Colleton River. This peninsula community delivers on its promise of world-class golf, pristine natural surroundings, and an unparalleled water experience. With nature as the centerpiece, Colleton River's 1,500 acres epitomize Lowcountry serenity, with Spanish moss draped Live oaks and palmetto trees lining roadways. Trails wind through a blend of beautiful homes, natural terrain and 7 miles of expansive water and marsh views. The peninsula is also anchored by adjoining Victoria Bluff, an 1,100-acre nature preserve
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SC


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


Schell Brothers - Delaware Premier Home Builder

Schell Brothers - Delaware Premier Home Builder

Rehoboth Beach, Delaware

Located in the heart of Rehoboth Beach, Delaware, we pride ourselves on building homes that provide a healthier and more comfortable living environment for our homeowners. As a leading builder on the coast of Delaware, we specialize in new homes that offer a variety of architectural styles, innovative floorplans and extensive personalization in highly desirable communities in Sussex and New Castle Counties.
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DE


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


The Bluffs on the Cape Fear

The Bluffs on the Cape Fear

Leland, North Carolina

This waterfront community is renowned for its stunning Bluffs overlooking the Cape Fear River and offer entertainment options for every member of the family. Welcome to The Bluffs on the Cape Fear, where privacy and tranquility are joined in a setting of transcendent natural beauty. Here you'll discover the best of both worlds - a private preserve in the midst of nature, but an easy drive from everything Wilmington and the Coastal Carolinas have to offer.
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NC


Grand Highlands at Bearwallow Mountain - NC Mountain Communities

Grand Highlands at Bearwallow Mountain - NC Mountain Communities

Hendersonville, North Carolina

Unparalleled panoramic views of the Blue Ridge Mountains and pristine forests. This award winning mountain top community is removed without being remote. It is minutes from the conveniences of Hendersonville, NC and the Asheville Airport. Ideal altitude from 3,200 to 3,800 feet to enjoy cool summers without the harsh winters.
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NC


Lakewood Ranch | Best Places to Live in Florida

Lakewood Ranch | Best Places to Live in Florida

Lakewood Ranch, Florida

At Lakewood Ranch, it's all about the good life. Health, family, and fun are the focus. And, there's an activity to fit every lifestyle. The community hosts 54 holes of golf, a country club with two clubhouses, and tennis and athletic centers. Additionally, it's home to the Sarasota Polo Club and seven world-class polo fields. Lake Ranch polo tournaments attract players from around the world. Still, the list continues with a 75-acre premier sports campus, A-rated schools, and a hospital and preventative medical clinic.
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FL


Traditions of America at West Brandywine

Traditions of America at West Brandywine

Dowingtown, Pennsylvania

Traditions of America - developers of the most sought-after retirement communities in the Lehigh Valley and Lancaster area - is excited to bring the 55 Plus Live Better lifestyle to northern Chester County, one of the most sought-after locations in the suburbs of Philadelphia.
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PA


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