Colorado

For some beneficiaries that are younger than 65, Social Security benefits that are up to $20,000 will be excluded, with other retirement income. Even more, those who are 65 and older will benefit from exclusion to their retirement income and benefits up to $24,000.

By 2021, Colorado registered a flat income tax rate of 4.5%, due to a high fiscal year revenue growth rate. Denver and some other cities in Colorado state impose a monthly payroll tax. Plus, the median property tax tare here is $494 per $100,000 of assessed home value, and there is no inheritance tax or estate tax.