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Reply to "Anyone move from DMV to no state income tax state?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We plan to move to / domicile in Pennsylvania once we are able to retire and spend summers there.[/quote] Why PA? Their Sales and Property taxes are 6.34% and 1.58% respectively. Virginia's is 5.73% and 0.82%. Neither taxes SS. PA has an inheritance tax but VA doesn't. It's also colder. [/quote] NP here. Pennsylvania doesn’t tax pensions, which can be a good savings. They do have an inheritance tax, and are one of only two states that have an inheritance tax even when the entire estate is going to the children of the deceased. But, let’s face it, you’re gone by the time the inheritance tax kicks in. Would you rather have more money when you're alive or when you are dead? Pennsylvania let’s you hold on to your money and use it while you’re still alive. [/quote]
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