Best Tax-Friendly States For Retirees

List points out the best states when considering both financial and lifestyle for retirees

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#5: Louisiana

State Income Tax: 2% to 6%
State Sales Tax: 4%

Feeling like escaping into a southern life of relaxation? Louisiana boasts an average temperature of 66.7 degrees — and only Hawaii and Florida offer a better average climate.

The state exempts Social Security and military, civil-service, state and local government pensions from income taxes. And while you’re relaxing on the hammock, know that for residents 65 and older, you’re also exempt from income taxes up to $6,000 per person on private pension, annuity income and IRA distributions.

Article printed from InvestorPlace Media, http://investorplace.com/2013/10/top-tax-friendly-states-to-retire/.

©2014 InvestorPlace Media, LLC

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