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Old 08-21-2011, 01:34 PM
 
Location: The Bluegrass State
234 posts, read 359,768 times
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Default Taxing of pensions by the States?

Question- what states out there do not tax retirement pensions? In particular, I was wondering if Georgia, Tennessee, North Carolina and Kentucky do so?
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Old 08-21-2011, 01:59 PM
 
Location: Central Maine
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This might help: State-by-State Guide to Taxes on Retirees

For example, for North Carolina, it states:

EXEMPTIONS FOR RETIREMENT INCOME
Social Security is exempt. At least $4,000 in exclusions for pensions from federal, state and local governments (depending on dates and length of service); an exemption of up to $2,000 for qualified private pensions, including IRAs. Out-of-state government pensions also qualify for the $4,000 exemption. State retirees with at least five years of creditable service as of August 12, 1989, will be permanently exempt from state income tax on their retired/retainer pay; the same applies to military pensioners.
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Old 08-21-2011, 02:02 PM
 
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Default Here is another site with information

Retirement Living - Taxes by Ste: Alabama - Iowa
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Old 08-21-2011, 02:08 PM
 
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Quote:
Originally Posted by xxmagex View Post
Question- what states out there do not tax retirement pensions? In particular, I was wondering if Georgia, Tennessee, North Carolina and Kentucky do so?
North Carolina it depends on the source of the pension. Some are not taxed at all and others the first 4K is not taxed.
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Old 08-21-2011, 02:22 PM
 
Location: Los Angeles area
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Only a minority of states tax Social Security retirement benefits. The few that do can be found on the two websites already provided by earlier posters. Even California, a high tax state, does not tax Social Security. But Calif. does fully tax all non-Social Security pensions as ordinary income, whether government or private.
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Old 08-21-2011, 04:45 PM
 
Location: Prospect, KY
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Kentucky has a pension state tax exclusion of up to $41,110 for military, civil service, state/local government, qualified private pensions, and annuities. Kentucky does tax social security however.
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Old 08-21-2011, 05:12 PM
 
Location: Center City
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No tax whatsoever on pensions, SSA or IRA distributions in PA.
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Old 08-21-2011, 08:03 PM
 
Location: Afghanistan
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Often it makes a diff WHO the pension check is from. Military, State, federal and municipal pensions are usually the ones which qualify for special treatment. So this info is needed for an accurate evaluation.
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Old 08-21-2011, 09:14 PM
 
Location: The Bluegrass State
234 posts, read 359,768 times
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Quote:
Originally Posted by Traeger View Post
Often it makes a diff WHO the pension check is from. Military, State, federal and municipal pensions are usually the ones which qualify for special treatment. So this info is needed for an accurate evaluation.
In this situation, it would be my state pension and my wife's federal pension
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Old 08-22-2011, 12:24 AM
 
Location: Albuquerque
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Quote:
Originally Posted by xxmagex View Post
Question- what states out there do not tax retirement pensions? In particular, I was wondering if Georgia, Tennessee, North Carolina and Kentucky do so?
One thing about North Carolina - If you have a federal pension and had at least 5 years of service by Aug 12, 1989...you qualify for the "Bailey exemption." You don't have to pay any state income tax on that pension.
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