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Old 01-10-2015, 03:14 PM
 
Location: Yorkville, il
10 posts, read 12,762 times
Reputation: 16

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Hello, can anyone tell me if a police pension is taxed in South Carolina?? My husband just retired at 60 with thirty years service with military police, county police and local police dept combined. We be moving from Illinios.

We are looking to possibly move there. We still have young kids 10,10 and 8. So we are trying to see if it in our $ benefit to move. Can anyone tell us what tax exemptions you get if you resident. Kids, spouse ect.. We do know about the car tax and the lower property taxes.

Can anyone help us out??

Are there any other benefits ???


We would greatly appreciate advise . We so enjoyed our visits and would love to make this our new home if fisable.

Thank you
Mark and Dawn

Last edited by dknepp; 01-10-2015 at 03:32 PM..
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Old 01-10-2015, 03:31 PM
 
Location: Yorkville, il
10 posts, read 12,762 times
Reputation: 16
My husband is only 50 oops..

Last edited by dknepp; 01-10-2015 at 04:56 PM..
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Old 01-10-2015, 03:40 PM
 
Location: Scott County, Tennessee/by way of Detroit
3,330 posts, read 2,122,972 times
Reputation: 10277
South Carolina Income tax on Pensions question


Just found this.....
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Old 01-10-2015, 04:42 PM
 
48,516 posts, read 83,880,155 times
Reputation: 18049
Having retired early :I can tell you first and foremost is health insurance in transferring state to state. Even beyond taxes as overall COL pretty much tells that tale. Especially with three children that young its beyond most retirement planning in general.
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Old 01-10-2015, 05:32 PM
 
Location: Great State of Texas
86,093 posts, read 72,460,873 times
Reputation: 27565
Here's another link that has info:

Taxes by State
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Old 01-11-2015, 07:27 PM
 
Location: OH>IL>CO>CT
5,225 posts, read 8,384,895 times
Reputation: 7180
Quote:
Originally Posted by dknepp View Post
Hello, can anyone tell me if a police pension is taxed in South Carolina?? My husband just retired at 60 with thirty years service with military police, county police and local police dept combined. We be moving from Illinios.

We are looking to possibly move there. We still have young kids 10,10 and 8. So we are trying to see if it in our $ benefit to move. Can anyone tell us what tax exemptions you get if you resident. Kids, spouse ect.. We do know about the car tax and the lower property taxes.

Can anyone help us out??

Are there any other benefits ???


We would greatly appreciate advise . We so enjoyed our visits and would love to make this our new home if fisable.

Thank you
Mark and Dawn
The short answer appears to be: Most pension plans are eligible for a state tax deduction of $3000 or $10000 depending on age. See page 9 of the SC tax form at http://www.sctax.org/forms/individua...iitpacket-form re entries to be made on Line P of the SC tax return.
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