A few states, such as Texas and Florida, have no state income tax. Mississippi exempts Social Security and all pensions. The income tax base in Tennessee excludes pensions and retirement income. And, in the top retirement places, Fayetteville and Hot Springs rank 14th and 30th overall, graded on cost of living, recreation and other quality of life factors. These figures compare buying power in several cities from which many people relocate to Arkansas with annual income in Hot Springs , a popular retirement area.
Several states require no income tax, although they often have steep sales tax rates.
These figures from the Sales Tax Institute compare rates, tax brackets and state sales tax in states from which many people relocate to Arkansas. States are listed in alphabetical order. Click here to view the Cost of Living Comparison Chart . All Rights Reserved.