Kiplinger: Best & Worst States To Retire

DETROIT (WWJ) - If you are using taxes as a yard stick...what state would be best for retirees? WWJ Newsradio 950's Rob Sanford says some information released this past week could help you decide.

Kiplinger's Personal Finance magazine has a list of the best and worst states to retire in, based on taxes.

Michigan used to be one of the best...but changes in the tax code took it off the list.

Kiplinger's Mary Beth Franklin says the best is Wyoming, followed by Mississippi:

"It exempts your social security benefits but also excludes all qualified income, which it defines as pensions, annuities, distributions from plans from retirement plans like IRA's and 401k's," said Franklin.

Franklin notes that the worst include Vermont, Minnesota, Nebraska, Oregon, and California.