Tag: #inheritancetaxes

States with No Estate Taxes or Inheritance Taxes

New Mexico Getty Images Overall Rating for Taxes on Retirees: Not tax-friendly. Sales Tax: 5.125% state levy. Localities can add as much as 4.313%, and the average combined rate is 7.83%, according to the Tax Foundation. New Mexico's tax is a gross receipts tax that covers most services. Groceries: ExemptClothing: TaxableMotor Vehicles: Exempt from ordinary…