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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)


Request information from these Tax-Friendly Communities

Woodside - South Carolina Gated Communities

Woodside - South Carolina Gated Communities

Aiken, South Carolina

Carefully planned 2,800-acre gated community, recently named one of Money Magazine's "Top Ten Retirement Communities." Three private 18 hole championship golf courses, tennis pavillion, wooded walking trails and more. Top medical facilities, university town with a mecca of cultural events.
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SC


Retire NC

Retire NC

Cary, North Carolina

From four distinct seasons to its geographic diversity and welcoming communities, North Carolina draws those seeking retirement options that feed the senses and the soul. Retiring to North Carolina is like coming home...
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NC


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


Hartness Greenville

Hartness Greenville

Greenville, South Carolina

The community will feature a number of defining amenities including a central park, sidewalks and pedestrian greenways, unique streetscapes, a commercial center with restaurants and shops, a clubhouse with fitness center, a swim complex, tennis and pickleball, a boutique hotel with spa and a 180 acre nature preserve with 15 miles of trails. Come see 450 acres of beauty in Greenville, SC.
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SC


Palmetto Creek of the Carolinas - North Carolina Gated Communities

Palmetto Creek of the Carolinas - North Carolina Gated Communities

Bolivia, North Carolina

Imagine the serenity of a completely nature front community lined with palmetto palms and walking trails created for long walks and naturalist activities. Located just minutes from Southeast North Carolina's beautiful beaches, Palmetto Creek offers nature and wildlife beauty up close
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NC


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


WaterSong at RiverTown

WaterSong at RiverTown

St Johns,

WaterSong at RiverTown is Debuting Soon! As a Florida 55+ Active Adult Community, now is the time to enjoy a carefree active lifestyle centered on fun and enjoying life. Located along the banks of the St. Johns River, WaterSong features magnificent resort-style amenities. Find your dream home today!
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FL


K. Hovnanian's   Four Seasons at Ventana Lakes

K. Hovnanian's Four Seasons at Ventana Lakes

Peoria, Arizona

K. Hovnanian's ® Four Seasons at Ventana Lakes in Peoria, AZ, an active adult new home community for those 55+, will offer single-family new homes in an excellent Peoria location. There are multiple community centers including space for cards and games, a library, billiards, ping pong, quilting, crafts and a stage for programs, productions and concerts. The community features 4 pools and well as gorgeous lakes that are available for catch and release fishing. Several sports courts are available to residents including bocce, racquetball, shuffleboard, tennis, basketball, horseshoes, pickle ball and volleyball.
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AZ


Naples Estates

Naples Estates

Naples, Florida

Naples Estates is being developed as the area's premier home community for active adults. With a beautiful new ballroom and activity center under development, we are sure to be the talk of the town. Our new Resort Style Clubhouse, will feature a grand ballroom with concert staging, a dance floor and catering kitchen to host your large events.
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FL


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


Fairfield Glade & Fairfield North - Tennessee Resort Communities

Fairfield Glade & Fairfield North - Tennessee Resort Communities

Fairfield Glade, Tennessee

If you are looking for spectacular mountain beauty...look no further than Fairfield Glade. This well appointed community is located high atop Tennessee's Cumberland Plateau at 2,000 feet elevation, which accounts for the near perfect seasonal changes with very comfortable summers and mild winters.
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TN


Cresswind Charlotte

Cresswind Charlotte

Charlotte, North Carolina

Encompassing 370 woodland acres, Cresswind Charlotte is a 55+ community in Charlotte, North Carolina. This active adult community is situated away from the congestion of the city with resort-style amenities and a variety of activities. Miles of walking trails meander throughout the community, and the 18,000-square-foot clubhouse will feature a fitness center, indoor and outdoor swimming pools, tennis, pickleball, and bocce.
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NC


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


Celadon

Celadon

Beaufort, South Carolina

Located in SC's Lowcountry, a mere three miles from downtown Beaufort, this beautiful master-planned community allows you to focus on a simpler, happier, healthier life.
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SC


Scotch Hall Preserve - Pristine North Carolina Coastal Golf Community

Scotch Hall Preserve - Pristine North Carolina Coastal Golf Community

Merry Hill, North Carolina

This remarkable lifestyle community sits majestically on North Carolina's Albemarle Sound. Surrounded by water, ancient Cypress and live Oaks, there is no other place as unspoiled. Featuring an Arnold Palmer Signature golf course, marina, swim pavilion, Scotch Hall Preserve offers waterfront, golf and woodland homesites.
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NC


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