Why Some Retirees Might Want to Move to North Dakota

When you think of retirement locales, you probably picture palm trees and sunshine. But a recent change may have some retirees moving to North Dakota. That’s because North Dakota just eliminated its state tax on Social Security benefits.

According to The Motley Fool, there are now only 12 states that tax Social Security income. They are Colorado, Connecticut, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, Rhode Island, Utah, Vermont and West Virginia. But just because you live in a state that might not tax Social Security does not mean you will not need to pay taxes on that income — the federal government may assess taxes on up to 85 percent of your benefits.

The Seniors Trust is committed to improving the financial well-being of America’s retirees through passage of The Social Security Expansion Act. It will give retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA) and increased minimum benefits.