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Otherwise, taxes in the range of 3.75% to 5.99% apply, resulting in a tax bite of between $66.91 and $106.87 monthly on the average Social Security benefit. Utah
Colorado’s state tax rate is 4.40 percent for the 2024 tax year. Colorado taxpayers who are 65 and older as of Dec. 31 of the tax year can subtract the full amount of their Social Security ...
Federal Tax Filing Type. Combined Income. Percentage of Social Security Benefits That Are Taxable. Single. Less than $25,000. 0%. $25,000 to $34,000. Up to 50%
Filing As. Combined Income* Percentage of Benefits Taxable. Single individual. Between $25,000 and $34,000. Up to 50%. Married, filing jointly. Between $32,000 and $44,000
For example, in Colorado, residents ages 65 and older have been able to fully deduct federally taxed Social Security benefits on their state income tax returns since tax year 2022. For 2025, that ...
Nine states require retirees to pay income tax on their Social Security benefits, with Kansas the most recent state to remove that tax burden from retirees in June 2024.
Colorado, for example, does not tax Social Security benefits of those who are 65 or older. And in Minnesota, those meeting certain income requirements can subtract up to $5,840 on their tax return ...
The 10 states that tax Social Security benefits. Residents in the following 10 states could face Social Security benefit taxes: Colorado. Connecticut. Kansas. Minnesota. Montana. New Mexico. Rhode ...