ALBANY - A national finance magazine has named New York among the worst states in terms of taxes in which to retire.
Kiplinger’s Personal Finance and its Retiree Tax Map on Tuesday ranked New York as the 10th worst state in which to retire when taking into account taxes on income, purchases, gas and other items including alcohol and tobacco as well as the rules and regulations to which citizens must comply.
California and New Jersey were also on the list, in which half of the states are in the Northeast.
The least tax-friendly states in which to retire were led by Vermont, followed by Connecticut and Rhode Island. The most tax-friendly states to retire were Alaska, Wyoming, Nevada and, at No. 10, Florida.
“What many people don’t realize is that where you retire can be just as important -- or, in some ways, even more important -- than what you have when you retire,” said Sandra Block of Kiplinger’s Personal Finance.