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Most Important Financial Benefits For Retirees Offered By Each State

May 11, 2021 · Retirement Life

South Carolina

– Social Security income is not taxed; $15,000 exemption on other retirement income for residents aged 65 and older

– Tuition waiver for auditing of for-credit classes at South Carolina state schools for residents aged 60 and older

– Exemption from jury duty

– Reduced cost for bus rides in Charleston and Spartanburg; discounts on other bus routes throughout the state

– $9 lifetime hunting and fishing license for residents 64 and older; no charge for seniors born prior to July 1, 1940.

A couple looking up at a large stone mountain monument.
A happy senior couple explores Mount Rushmore, enjoying the scenic beauty and financial perks of South Dakota.

South Dakota

– There’s no state income tax

– There’s no estate tax

– 45% discount for tuition at public universities for residents 65 and older

– 50% off on Rapid City trolleys and buses for residents 60 and older; 50 percent discount for Sioux Falls and Pierre transit services

– $12 fishing licenses for residents aged 65 and older

A senior woman smiling and clapping at a music performance.
A smiling woman claps along to live music and dancing at the legendary Bluebird Cafe in Tennessee.

Tennessee

– State taxes applied to dividends and interest income only; income under $37,000, or $68,000 for joint filers is not taxed in the case of residents aged 65 and older

– Tuition exemptions for for-credit courses at state colleges, universities, and community colleges for residents aged 65 and older

– Low fares for Knoxville, Nashville, Kingsport, and Memphis public transportation services for residents aged 65 and older

– Hefty discounts for annual and lifetime hunting and fishing licenses given to residents 65 and older

– Reduced fees for state park fees for campsites, inns, meals, beach parking, and some golf courses for citizens 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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