Posted on Jul 25, 2019
1SG Military Police
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Posted in these groups: Retirement logo RetirementMoney budget BudgetTaxes logo TaxesDouble barred dollar sign.svg Money
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Responses: 5
CW5 Jack Cardwell
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My state not the best but definitely not the worst.
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CW4 Craig Urban
CW4 Craig Urban
>1 y
Florida. They do not tax military pensions or social security. California is the worst. Thank god I worked in Orlando for a year as a contractor.
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Col Lyman Faith
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Chart is interesting, showing a square for tax on all income. However, Alabama does NOT tax military retirement.
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LTC Stephen C.
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Edited >1 y ago
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There's no sting at all when living in Tennessee, 1SG (Join to see)! The chart is really somewhat misleading, because the majority of the taxpayers don't have enough interest and/or dividend income to be a significant income tax factor.
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1SG Military Police
1SG (Join to see)
>1 y
I know what you mean sir. The Volunteer State is my first choice!
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LTC Stephen C.
LTC Stephen C.
>1 y
Lived in middle Tennessee since early 1991, 1SG (Join to see) One time, my wife and I discussed about moving at retirement age and thought about it only briefly. The geography here is beautiful to include hills and lakes, the climate is temperate, the cost of living is excellent, people are friendly and there's no state income tax! We're already living in the perfect spot!
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LTC Stephen C.
LTC Stephen C.
>1 y
Average sales tax in Tennessee is 9.492%, SFC Christopher Smith, and there are reduced taxes for some grocery items. Gasoline tax is $.26/gallon.
Granted, the sales tax can be viewed as a form of income tax, but all states must generate revenue (generally from taxes), regardless of how they're imposed. However, in the State of Tennessee (and many others as well) this burden is mitigated and shifted somewhat as every traveler and tourist in Tennessee must also pay these taxes. With highly trafficked interstates (75, 65, 24, 40 and 81) and Tennessee rapidly becoming more and more popular as a tourist destination, we have thousands of non-residents that are helping to fill the state's coffers.
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