Josh Scandlen Podcast

Alabama has the 2nd lowest property tax in the United States.  Which is a huge win for the residents there.  But citizens of Alabama pay among the highest sales taxes in the nation too.  However, if you just looked at the state sales tax, you may think you wouldn't pay much in Alabama.   But you'd be wrong.  As the localities can put their own sales tax. And they do, more than double the state sales tax actually. Lastly, when it comes to income tax Alabama is very favorable for retirees.  Social Security is exempt. As are all government pensions AND, and this is huge, qualified private pensions.  What is a qualified private pension?  Well, here is what the state says. "Payments from a Defined Benefit Retirement Plan in accordance with IRC 414(j)." And here is a 29 page list of various companies who have NOTIFIED the state that their pension is qualified. https://revenue.alabama.gov/wp-content/uploads/2017/07/DEFINED.BEN_.pdf  AL says that this list is by no way