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Most Important Financial Benefits For Retirees Offered By Each State

May 11, 2021 · Retirement Life

New Mexico

– Tax waiver for up to $8,000 if income does not exceed $51,000 for joint filers and $28,500 for individual filer for residents 65 and older; exemption of 100% of their income for residents 100 and older

– $5 per credit at public educational institutions, limited to six credits per semester for residents 65 and older

– Discounted fishing licenses for residents ages 65-69; free fishing licenses for residents 70 and older; discounted hunting licenses for residents 65 and older

– residents 62 and older enjoy a $100 annual camping pass

– Discounts and specials on Rio Metro buses and trains; free trips on New Mexico Rail Runner Express commuter express train on Wednesdays for residents 62 and older

A senior couple looking out a large window at a city skyline.
A senior couple enjoys coffee while admiring the iconic New York City skyline from their home.

New York

– Social Security income is not subject to state tax; exemption for pension or annuity income up to $20,000 for residents older than age 59.5

– No tuition for classes at City University of New York schools and many State University of New York schools

– Half off for New York City MetroCards for residents 65 and older; discounts for transport by Long Island railroad, Metro North trains, and most bus systems in the state

– Free vehicle parking at state parks, boat launches, and arboretums during the week, as well as discounts for golf courses, through New York’s Golden Park program for citizens 62 and older

– Seniors aged 70 and older pay $5 for their hunting and fishing licenses

A senior man swinging a golf club on a green course.
A senior golfer enjoys a sun-drenched morning on a beautiful course nestled within North Carolina’s scenic pines.

North Carolina

– Social Security is not taxed

– There’s no estate tax

– Free classes of audit at North Carolina State University and University of North Carolina

– Low-cost bus rides in Fayetteville, Charlotte, Raleigh/Durham/Chapel Hill, Greensboro, and most regional buses

– Hefty discounts for lifetime hunting and fishing licenses

– Discounted fees for access to state parks for residents aged 62 and older

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One response to “Most Important Financial Benefits For Retirees Offered By Each State”

  1. min aung says:
    April 18, 2022 at 5:45 pm

    California impose tax on Social Security on mine.

    Reply

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