Which States don’t tax Social Security income, and are they really “tax friendly”?
It’s a fact that a majority of U.S. States – 37 out of 50 – don’t tax your Social Security income, which is of course an important factor in most seniors’ retirement planning. But just because a state doesn’t tax Social Security benefits doesn’t mean that state is truly “tax friendly”. This Motley Fool article by Matthew Frankel tells you which U.S. states don’t tax your Social Security benefits, but also explains that you should look at the other elements of a state’s taxing structure, such as sales tax and tax rates on other income, to measure its tax friendliness. Click here to read more.