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The 10 Best State Tax Deals For Seniors

July 29th 2010 04:10

best tax states seniors retirement









Illinois

Illinois exempts Social Security income and all private and public pension payouts, including IRA account withdrawals, from its flat 3% state income tax, regardless of the taxpayer's age. Plus each taxpayer 65 or older gets an additional $1,000 personal exemption on top of the state's standard $2,000 exemption. Beware: Legislators are attempting to bring back the state estate tax.







From: Forbes.com


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