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Where to retire? Decision could be taxing

When you're considering a retirement location, you may

When you're considering a retirement location, you may look at housing prices, property taxes, climate and cultural attractions. But do you ever stop to consider state taxes? Credit: iStock

There are many calculations that should take place before you settle on where you'll spend your golden years. For example, while you may look at housing prices, property taxes, climate and cultural attractions, do you ever stop to consider state taxes?

Some states, such as Vermont and West Virginia, tax Social Security benefits under certain circumstances. Other places, such as Virginia and some localities in Arizona, have a tax on all supermarket purchases, including food and prescription and over-the-counter drugs. (New York does not tax Social Security benefits, most foods bought at supermarkets or drugs.) And each state has different tax amounts for gasoline.

For more information, the Retirement Living Information Center (retirementliving.com) has a good state-by-state listing of taxes and fees. Go to bit.ly/statetaxes.

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