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On Sept. 14, 2022, North Carolina Gov. Roy Cooper called on state lawmakers to waive the tax, saying that “legislative leaders need to find a solution that treats student loan forgiveness the ...
While most states follow the federal tax code’s exemption through 2025, Wisconsin, Indiana, Mississippi and North Carolina are among the states taxing forgiven student loans as income.
Typically, federal student loan debt forgiven under certain programs—like income-driven repayment (IDR) plans—counts as taxable income, meaning borrowers who get relief will likely have a ...
Here’s what the California Franchise Tax Board says: “Forgiveness of student loan debt is generally taxable unless it meets one of the exclusions in California Revenue and Taxation Code ...
"Student loans that are forgiven after Dec. 31, 2020, and before Jan. 1, 2026, will not be taxed on a federal return, but for state income tax, there are some exceptions," Kathy Pickering, chief ...
The state of North Carolina still wants its taxes on forgiven student loans, and that won’t change, Sen. Phil Berger said. Student loan forgiveness in NC won’t equal a state tax break, top ...
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