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Old 12-14-2013, 05:46 AM
 
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Does Texas have any additional taxes/state taxes on out of state pensions? Thanks in advance
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Old 12-14-2013, 06:15 AM
 
Location: Great State of Texas
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Texas doesn't have a state income tax.
You only pay federal income tax here.
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Old 12-14-2013, 06:16 AM
 
Location: The People's Republic of Austin
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100% for the first five years. Emigration tax.

Seriously - Texas has no tax on personal income, earned or unearned. In the state constitution.
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Old 12-14-2013, 06:33 AM
 
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Excellent. Thanks for the quick reply!
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Old 12-14-2013, 06:48 AM
 
Location: Folsom, CA
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Quote:
Originally Posted by westcoastforme View Post
Does Texas have any additional taxes/state taxes on out of state pensions? Thanks in advance
Nope, not here in Texas. If your pension is from California, though, prepare to fend off efforts from the Franchise Tax Board to keep collecting. It is very aggressive. Keep good records of your Texas residency.
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Old 12-14-2013, 03:43 PM
 
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It will be an Illinois pension.
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Old 12-14-2013, 03:53 PM
 
Location: Austin, TX
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Illinois pension will be in default in, what, 6 years?
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Old 12-15-2013, 03:04 AM
 
7,687 posts, read 5,117,954 times
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Quote:
Originally Posted by Trainwreck20 View Post
Illinois pension will be in default in, what, 6 years?
Not mine. Mine is funded by me, my employer, and investments. It is 95% funded now! and that's after the downturn in the economy. My pension is funded by no state money whatsoever.

The pension stuff you are hearing about is the state police, teachers, and state workers.
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Old 12-18-2013, 08:27 AM
 
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Originally Posted by sanmiguel View Post
Nope, not here in Texas. If your pension is from California, though, prepare to fend off efforts from the Franchise Tax Board to keep collecting. It is very aggressive. Keep good records of your Texas residency.
Yes, you have to request a form from your former employer to stop having CA income tax taken out. As soon as we no longer owned property in CA, we made that request. Took several months to get it done, (I had to apply twice) but then we got it all back when the at tax time.
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