Pennsylvania Makes Magazine’s Top 10 As Tax-Friendly To Retirees

Map of Pennsylvania, showing major cities and ...

Map of Pennsylvania, showing major cities and roads (Photo credit: Wikipedia)

Allegheny County residents smarting from the sting of new property assessments may not agree, but Pennsylvania was just picked as one of the 10 most tax-friendly states for retirees.

The rankings by Kiplinger magazinecompared a variety of taxes including sales, income, retirement and inheritance taxes.

Local taxes were not a factor.

Pennsylvania ranked high overall primarily because the state largely avoids dipping into retirees’ nest eggs by not taxing Social Security benefits, public and private pensions, or distributions from IRAs and 401(k)s, said Rachel Sheedy, retirement editor for the personal finance publication.

The state’s high ranking from Kiplinger follows several other recent surveys that have pointed to the Pittsburgh region in particular as one of the most livable places for retirees.

Read more: http://www.post-gazette.com/stories/local/state/pa-makes-magazines-top-10-as-tax-friendly-to-retirees-652374/#ixzz25tLU1PE1

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