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Retirement State Comparison Workbook

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Four states against one retiree's actual income mix rather than against a headline rate, because a headline rate is almost never what a retiree pays. Social Security, 401(k) withdrawals, and private, public and military pensions each get their own row — states treat them very differently, and several exempt a government or military pension in full while taxing a private one. Age is an input because a large number of state exclusions are age-triggered. Then the part most comparisons omit: a state with no income tax raises the money somewhere, and for someone who owns a home outright the property tax line is frequently larger.

Format: Excel (.xlsx)

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Preview only — scroll to read it. The file you download is fully editable.

Read-only preview of the State Comparison worksheet



Retirement State Comparison Workbook
Four states, one retiree, on the income you will actually have. A headline income tax rate is almost never what a retiree pays — most states exempt Social Security entirely, many exclude pensions above an age, and several have no income tax at all. Look up each state's own treatment, enter it here,…

Part 1 — Your income, which does not change with the state
Social Security, per year	36000
Traditional 401(k) / IRA withdrawals	42000
Private pension	18000
Public / government pension	0	Kept separate because many states treat a government pension far more generously than a private one — sometimes exempting it entirely.
Military pension	0	Separate again: a large number of states exempt military retirement in full even when they tax everything else.
Other ordinary income	6000
TOTAL INCOME	ƒx
Your age at year end	68	Age is the single most powerful variable in state retirement tax. Several states go from taxing most of this to taxing none of it between 62 and 65.

Part 2 — The four states
Look each one up from the state's own department of revenue, or from calculatorbystate.com's retirement state-tax calculator, which carries all fifty. Enter what that state EXCLUDES, not what it charges.
	State A	State B	State C	State D	Notes
State	Pennsylvania	Ohio	Minnesota	Florida
Social Security excluded? 1 = yes	1	1	1	1	Nearly every state exempts it in full. Set to 0 only if you have confirmed otherwise for your income level.
401(k) / IRA excluded, up to	9999999	0	0	9999999	A dollar cap, or 0 for none. Enter a very large number where a state excludes it entirely.
Private pension excluded, up to	9999999	0	0	9999999
Public pension excluded, up to	9999999	0	0	9999999
Military pension excluded, up to	9999999	9999999	9999999	9999999
Standard deduction / exemption	0	0	14600	0	The state's own, which is usually nothing like the federal one.
Effective rate on what is left (%)	3.07	2.75	6.8	0	Not the top marginal rate. For a state with brackets, work it out on the taxable figure in row 27 rather than reading the headline.
Local income tax rate (%)	1	1.5	0	0	Twelve states permit one. Where it applies it is charged on top and is frequently ignored in comparisons.

Part 3 — What each state actually charges
Income this state excludes	ƒx	ƒx	ƒx	ƒx
Taxable before deduction	ƒx	ƒx	ƒx	ƒx
Taxable income	ƒx	ƒx	ƒx	ƒx
State income tax	ƒx	ƒx	ƒx	ƒx
Local income tax	ƒx	ƒx	ƒx	ƒx
TOTAL STATE AND LOCAL	ƒx	ƒx	ƒx	ƒx
As a share of your income	ƒx	ƒx	ƒx	ƒx	The honest comparison. A state with a high headline rate and a generous retirement exclusion frequently beats one with a low rate and none.
Cheapest of the four	ƒx
Dearest of the four	ƒx
Spread, per year	ƒx
Spread over 25 years, ignoring growth	ƒx	Undiscounted and deliberately crude. It is a sense of scale, not a projection.

Part 4 — What income tax does not decide
Income tax is one line of the cost of living somewhere, and for many retirees it is not the largest. A state with no income tax raises the money somewhere else — property tax, sales tax, or both — and those fall on a retiree too.

Property tax on the home you would buy					Frequently larger than income tax for a retiree, and several no-income-tax states are at the top of the property tax range. Look up the actual county rate on the actual house.
Any senior exemption or freeze?					Many states cap or freeze assessments above an age, and some are generous enough to change the ranking above. Ask the county assessor.
Sales tax on your actual spending					Regressive against a fixed income. Check whether groceries and prescriptions are exempt, because that changes the real rate considerably.
Estate or inheritance tax					A minority of states levy one, sometimes at thresholds far below the federal one. It does not affect you; it affects who you leave things to.
Health insurance before Medicare					If you retire before 65 this is frequently the largest single line, and it varies by state and by county.
Medicare Advantage plan availability					Varies enormously by county, not by state. Worth checking for the specific place rather than the state.
Cost of the actual house					The largest number in the whole decision, and the one no tax comparison contains.
Distance from people you would want to see					Not a number. Frequently the thing that decides whether a move lasts.

Part 5 — If you actually move
ESTABLISHING DOMICILE IS A LEGAL TEST, NOT A CALENDAR ONE. A high-tax state you leave may continue to assert you are resident, and several of them audit departures actively. Days counted is one factor among many.

Driver's licence and vehicle registration moved
Voter registration moved
Primary residence sold or genuinely let, not kept available

Preview shows the first 60 rows. The full worksheet continues for 15 more — the complete worksheet is in the download.

This template is general information, not financial, legal, or tax advice.