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Here are 13 states that won't tax your Social Security, 401(k), individual retirement account (IRA), or pension income. A map of the U.S. overlaid with $100 bills. Image source: Getty Images.
Illinois charges a flat state income tax of 4.95 percent, but all retirement income is exempt from paying the tax. This includes pension payments as well as distributions from retirement plans ...
Most retirement income is subject to state income tax in North Carolina, but residents with a taxable income of $47,150 or less are exempt. If your taxable income is between $47,151 and $238,200 ...
In addition to the nine states that simply don't impose any income tax on anyone, four more states don't tax retirement income from 401(k) accounts, IRAs, and pensions, even though they do still ...
Most states don't tax Social Security income anyway, and for most of the few that do, this taxation is modest. Pension income isn't being considered either, although in most cases, states that ...
New Hampshire doesn’t tax personal income, but it does have a 4% tax on dividends and interest with a total gross from all sources of $2,400 for individuals. This tax is set to be phased out by ...
These 34 states tax pension income When it comes to pension income, the news isn't as good. Here, per Kiplinger.com, are the 34 states -- plus the District of Columbia -- that tax pension income:
Connecticut residents can expect to pay an extra 3.0% to 6.99% in state income tax. But if you receive Social Security, you’ll include only 50% of your received benefits in your taxable income ...
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