Social Security has been certainly losing buying power for about 20 years, something that the majority of senior citizens are unquestionably knowledgeable about after fighting this recent round of inflation. This is discouraging for most Americans who rely on these benefits, however, for some people, inflation is not the only battle they face.
38 States That Do Not Tax Social Security Benefits – Read To Know The List
There are at least 12 states that ask for tax for the Social Security benefits of many senior citizens, and if you live in one of these states, you can lose even more of your checks every year.
This is the list of the 12 states that tax Social Security benefits:
- New Mexico
- Rhode Island
- West Virginia
Living in one of these 12 states does not mean you’ll lose any of your benefits. Each state makes its own rules that decide when senior citizens must disburse their Social Security checks.
No Tax For Social Security Benefits In Some States In America
Here is the list of the 38 states that do not tax Social Security Benefits:
- New Hampshire
- New Jersey
- New York
- North Carolina
- North Dakota
- South Carolina
- South Dakota
But the residents of these 38 states could still be in debt of some federal taxes on their benefits