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Retirement Taxes That Bite in 11 States | Cleveland News
Description
Retirees, beware: Eleven states are quietly draining your savings with hidden tax traps on Social Security, retirement withdrawals, and property. From Kansas and Nebraska’s withdrawal taxes to California’s steep sales tax and Minnesota’s combo of Social Security and pension levies, even “retirement-friendly” spots have costly surprises. Colorado and Connecticut offer some relief, but rising home values and local taxes still bite. New Mexico, Montana, and Utah add layers of income-based taxes that hit middle-income retirees hardest. Before you pick a state, dig deep—your fixed income might not survive the tax maze.
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