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Welcome Forum The Lounge The 10 Worst States for Retirees

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  • #4924
    GTO Man
    Moderator

    Illinois, California, New York, Rhode Island, New Jersey, Ohio, Wisconsin, Massachusetts, Connecticut and Nevada

    No surprise that Wisconsin is in there.

    Yahoo Story

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  • #37355
    Anonymous
    Inactive

    More anecdotal evidence…..

    The gentleman who was been preparing my tax returns for the past 18 years, an experienced accountant and tax preparer, retired earlier this year. He had owned a property with a house, home offices for his tax preparation and investment services and acreage in Paoli his entire adult life. He sold his property in Wisconsin and relocated to Missouri because of the exorbant property taxes collected by Dane County and the state of Wisconsin.

    #37356
    lordairgtar
    Participant

    Wisconsin, as noted, is doubly cursed in these rankings as a high-tax state with cold weather. Plus, it has high property taxes. The only good news, at least for those to whom it applies, is that the Badger State doesn’t tax military pensions.

    Hmmm, wonder why that is. Hope the new admin will change this.

    #37363
    Anonymous
    Inactive

    Why would you want Wisconsin to collect state taxes on military pensions?

    Let’s assume for the sake of argument that a soldier/sailor/marine or airman was a legal citizen of another state the whole time they earned their pension. By virtue of simply moving to Wisconsin and becoming a resident of the state of Wisconsin, that a military and/or federal pension (under the old law) became taxable to Wisconsin. Why should Wisconsin be permitted to take a piece of something that they (the state) had nothing to do with?

    I don’t recall the exact year, but the last Republicangovernor, Scott McCallum, was actually responsible for changing the law so that military retirees pensions were not also taxed in Wisconsin. Those pensions are taxable at the federal level.

    Marshall

    #37357
    lordairgtar
    Participant

    I do NOT want the state to collect taxes on military pensions. I should have left that part of the sentence out…it was a copy and paste from the article.

    #37375
    Anonymous
    Inactive

    My bad, the confusion was on my end. I don’t know of anyone who is truly in favor of additional taxes, on anything.

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