California Makes Top Ten List of States Not to Retire in




The Golden State has lost its luster for many retirees. Although Social Security benefits are exempt from state income taxes, all other forms of retirement income are fully taxed. Californians pay some of the highest income taxes in the U.S., with the top rate of 9.55% kicking in at $46,767 of taxable income. State and local sales taxes can reach 9.25% in some cities...

State Income Tax: 1.25%-9.55%
State Sales Tax: 7.25% (effective July 1, 2011)
Estate Tax/Inheritance Tax: No/No

Read more: http://www.kiplinger.com/slideshow/TaxUnfriendlyStatesRetirees/6.html#top#ixzz1n3Ktm0ri