alexa Posted December 23, 2015 Posted December 23, 2015 Does anyone have a recent list of which states do & do not tax monthly pension annuities? we are a quasi state governmental entity thanks Alexa
david rigby Posted December 23, 2015 Posted December 23, 2015 Clarity needed. Are you referring to tax withholding at time of payment or to whether the pension is included in taxable income? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Bill Presson Posted December 23, 2015 Posted December 23, 2015 I know that Alabama does not have state tax on DB pension payments. But I don't have a list, though I remember seeing one a few years ago. William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
alexa Posted December 23, 2015 Author Posted December 23, 2015 I'm talking about are pension payments considered state taxable income e.g. PA doe snot state tax monthly pension payments
hr for me Posted December 23, 2015 Posted December 23, 2015 well, texas doesn't have state income tax, so no they wouldn't tax it.
GMK Posted December 30, 2015 Posted December 30, 2015 Taxability of Retirement Benefits Varies From State to State. Seven states do not tax individual income — retirement or otherwise: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Here are some links that might be informative to you: http://www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/http://www.retirementliving.com/taxes-by-state
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