Retirees, come on down!
We had made plans to include this in the Aug. 24 edition of the MBJ, but got squeezed by time and space limits.
Anyway, Kiplinger.com has named Mississippi one of the country’s most tax-friendly states for retirees. The full analysis is here. Mississippi got the hat tip from the personal finance Web site because Social Security benefits and qualified retirement income — including IRAs, 401 (k)s, 402 (b)s and public, private and military pensions — elude the state income tax man’s grasp. Overall, Kiplinger.com said Mississippi offered a “sweet deal” for retirees.
California, on the other hand, constituted a “nightmare” with its tax laws, which basically read like this: If it moves, tax it (and somehow they’re still broke). The full interactive map is here.