MS: Top 4 less-taxing for retirees

Mississippi was named the No. 4 most-friendly tax state for retirees by Kiplinger’s Personal Finance in the release of its 2017 Retire Tax Map, which looks at most and least tax-friendly states for retirees. Sandra Block, senior editor of Kiplinger’s Personal Finance, said one reason Mississippi scores high is because the state exempts all qualified retirement income from state taxes. “For that reason, it compares favorably with states that have no income tax,” she concluded. Florida, which has no state income tax, was rated No. 5 on Kiplinger’s map. The Top 3 most tax-friendly states are Wyoming, Alaska, and South Dakota. Valencia Williamson, executive VP of the Area Development Partnership in Hattiesburg - one of Mississippi’s cities involved in the Hometown Retirement City program – says the value of retirees goes beyond economics. “Retirees get involved.” In Hattiesburg, retirees (age 55-plus) make up 24 percent of the population. Among the Top 10 least tax-friendly states are Minnesota, Connecticut, Kansas, Vermont, Nebraska, New Mexico, Utah, Maryland, Indiana, and Wisconsin. (Source: Mississippi Business Journal 01/04/18)