Georgia ranks as one of friendliest tax states for retirees

Georgia ranks as one of friendliest tax states for retirees

(WTVM) - A new survey from Kiplinger Personal Finance magazine ranks Georgia number five for retirees based on state sales tax, income tax, social security and property tax.

Financial advisors credit a new law that will phase out income tax on all retirement income by 2016.

They say attracting retirees is good for Georgia.

"These are attractive citizens," said Vic Sullivan, financial advisor for Wells Fargo. "They live there, they pay property taxes, they buy your goods and services, but in many cases they don't need as many things. They don't have children. They're not demanding of the school system"

Alaska was ranked the friendliest tax state for retirees, and Connecticut was ranked the least friendly.

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