North Carolina Taxes for Retirees
What is it like to retire in the great state of North Carolina? For one, the weather is mild, making it an excellent destination for active seniors. The state also teems with natural beauty. But one of the most important factors regarding what makes NC a great retirement destination is its tax-friendliness. So, what exactly are North Carolina’s taxes for retirees like? Read on to learn more about what you can expect.
North Carolina Retirement Tax Friendliness
In addition to being a retirement tax friendly state, North Carolina’s cost of living is lower than the national average. This means your dollar will stretch further when you move to NC. While North Carolina doesn’t have as many tax benefits as some other states, the lower cost of living is a huge help.
North Carolina Retirement Taxes
If you’re considering a move to North Carolina for retirement, it’s important to keep the following in mind:
- Social Security income in North Carolina is not taxed
- However, withdrawals from retirement accounts are fully taxed
- Additionally, pension incomes are fully taxed
Should You Consider Moving to a Retirement Community in North Carolina?
With a lower cost of living, abundant natural beauty and charm, and North Carolina’s retirement tax friendliness, do you think a move to NC is right for you? Have you considered one of their active retirement communities? These resort-style communities have a number of different amenities and benefits (including healthcare) that make it fun, relaxing, and affordable to live there.
If you would like to learn more, including seeing retirement community prices, choose a community below to download a free information and pricing kit: