If you’re looking to save money on taxes, Florida is one of the best places to live.
A new Kiplinger study ranks the Sunshine State as the eighth-most “tax friendly” state due to the lack of state income and inheritance taxes. Property taxes are "reasonable,'' the magazine says, and Florida residents 65 and older who meet certain income limits can get an extra homestead exemption. Plus, any widow or widower who is a Florida resident can claim an additional $500 exemption.
The only negative is that sales taxes can go as high as 8.5 percent.
Wyoming is the No. 1 most tax friendly state, while others in the top 10 are Nevada, Delaware, Alabama, South Carolina, Tennessee, Mississippi, Georgia and Arizona.