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Kiplinger: Connecticut a Bad Place for Retirees

The financial magazine says Connecticut’s taxes aren't the best for retirees.

Kiplinger: Connecticut a Bad Place for Retirees

With a high income tax and the second-highest property taxes in the nation, Kiplinger ranked Connecticut as the least tax-friendly state for retirees.  

According to the magazine:

Connecticut can be inhospitable to retirees, depending on their income level and where they earned their retirement benefits. Some residents of the Constitution State can exclude their Social Security benefits from state income taxes, but only if their adjusted gross income is less than $50,000 (less than $60,000 for married couples).

Fellow New England states Vermont and Rhode Island also made the list, as did nearby New York and New Jersey.

Although Connecticut’s 6.35 percent sales tax is among the highest in the nation, a recent report put Connecticut in the middle of the pack . Connecticut’s municipalities do not charge additional sales taxes.

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