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Here's more good news: The list of states that tax Social Security benefits has been shrinking in recent years -- and it may continue doing so. West Virginia, for example, is phasing that tax out ...
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.
Colorado recently reduced its state income tax to 4.25% from 4.4% starting with the 2024 tax year, which applies to all of your taxable retirement income, including Social Security benefits. But ...
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.
Social Security plays a big role in many Americans' retirement security. In fact, 40% of Americans ages 65 and older rely on Social Security for at least half their income, according to the AARP ...
As of the 2022 tax year, most seniors in New Mexico are exempt from Social Security taxes, thanks to changes in the law. Seniors with incomes below the following levels will not have to pay taxes ...
As of 2023, taxes on Social Security benefits in New Mexico have been phased out for individuals earning less than $100,000 a year and married people filing jointly who earn less than $150,000.
We've ranked all 50 states, plus the District of Columbia, based on how they tax retirees. SEE ALSO: 50 Best Places to Retire in All 50 States ... Retirees relocate for lots of different reasons ...
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related to: kiplinger tax map for retirees social security