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Old 11-18-2006, 05:17 PM
 
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I retired from the state of NJ and moved to NC. Is my pension check and my husband's social security check taxable for NC state income tax?
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Old 11-18-2006, 05:22 PM
 
Location: Blue Ridge Mtns of NC
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As a result of the North Carolina Supreme Court's decision in Bailey v. State of North Carolina, North Carolina may not tax certain retirement benefits received by retirees of the State of North Carolina and its local government or by the United States government retirees (including military) for each retirement plan if the retiree has five or more years of creditable service as of August 12, 1989. The exclusion also applies to retirement benefits received from the State's 401 (k) and 457 plans if the retiree had contributed or contracted to contribute to the plan prior to August 12, 1989. The exclusion does not apply to retirement benefits paid to former teachers and state employees of other states and their political subdivisions.

Social Security and Railroad Retirement Benefits

If your social security or railroad retirement benefits were taxed on your federal return, you may take a deduction on your North Carolina individual income tax return. You may take this deduction because this income has already been included as part of your federal taxable income and North Carolina does not tax this income. This deduction will increase your refund or decrease the amount you must pay.

Any social security benefits you received that are not included in your federal taxable income cannot be deducted on your North Carolina return. If your federal taxable income includes social security benefits, enter the taxable amount of social security on page 3 of your Form D-400, line 41.

You can only deduct supplemental benefits paid by the railroad under the provisions of the Railroad Retirement Act. If you were an employee of a railroad company and received a distribution from the company's retirement plan, this amount does not qualify for the deduction because it was not paid under the provisions of the Railroad Retirement Act. If your federal taxable income includes Railroad retirement benefits received under the provisions of the U.S. Railroad Retirement Act, enter the taxable amount on page 3 of Form D-400, line 41. This amount will become part of the total line 9 amount on page 1 of your Form D-400.
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Old 02-19-2007, 01:52 PM
 
1 posts, read 25,145 times
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Default Taxable Status of State Retirement Income

I retired in 2005 after a 14-year career with the State of North Carolina, and am receiving retirement distributions through TIAA-CREF. I noted that TurboTax thinks that the amount over $4000 is subject to State Tax. Is State retirement income subject to State income tax?
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Old 02-19-2007, 01:59 PM
 
Location: Blue Ridge Mtns of NC
5,661 posts, read 25,950,676 times
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Quote:
Originally Posted by Jack4879 View Post
I retired in 2005 after a 14-year career with the State of North Carolina, and am receiving retirement distributions through TIAA-CREF. I noted that TurboTax thinks that the amount over $4000 is subject to State Tax. Is State retirement income subject to State income tax?
If you received retirement benefits as a former employee of the State of North Carolina or any of its local governments or as a former employee of the federal government and you did not have five years of service with the government as of August 12, 1989, you may deduct the amount included in federal taxable income or $4,000, whichever is less.
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Old 02-19-2007, 09:06 PM
 
Location: NEW JERSEY
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i would like info about hoke county ( raeford ) am looking for a small town am from jersey , am also looking to buy . i have 3 kids and am tired of living in the city , pleas help am loooking something like the country.
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Old 02-19-2007, 09:10 PM
 
Location: NEW JERSEY
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Default help

please help am thinking of moving to hoke county ( raeford ) how is the town ,am from new jersey and is expensive to live , any other small town , good areas for my children .
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Old 03-15-2007, 03:01 AM
 
8 posts, read 65,737 times
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Quote:
Originally Posted by maxine49 View Post
I retired from the state of NJ and moved to NC. Is my pension check and my husband's social security check taxable for NC state income tax?
Yes, both are taxable. NC only exempts pensions paid by the State of NC, certain railroad pension benefits and income from state or municipal bonds issued within NC.
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Old 07-30-2007, 07:59 PM
 
3 posts, read 49,722 times
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Quote:
Originally Posted by ROSIE MONTOYA View Post
please help am thinking of moving to hoke county ( raeford ) how is the town ,am from new jersey and is expensive to live , any other small town , good areas for my children .
Try Boiling Springs NC. (Cleavland County) Nice area, good Christan people. Close to Shelby NC

Hope this helps.
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Old 07-30-2007, 08:10 PM
 
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Default NC TAX---Penalty/Interest

Quote:
Originally Posted by mm34b View Post
As a result of the North Carolina Supreme Court's decision in Bailey v. State of North Carolina, North Carolina may not tax certain retirement benefits received by retirees of the State of North Carolina and its local government or by the United States government retirees (including military) for each retirement plan if the retiree has five or more years of creditable service as of August 12, 1989. The exclusion also applies to retirement benefits received from the State's 401 (k) and 457 plans if the retiree had contributed or contracted to contribute to the plan prior to August 12, 1989. The exclusion does not apply to retirement benefits paid to former teachers and state employees of other states and their political subdivisions.

Social Security and Railroad Retirement Benefits

If your social security or railroad retirement benefits were taxed on your federal return, you may take a deduction on your North Carolina individual income tax return. You may take this deduction because this income has already been included as part of your federal taxable income and North Carolina does not tax this income. This deduction will increase your refund or decrease the amount you must pay.

Any social security benefits you received that are not included in your federal taxable income cannot be deducted on your North Carolina return. If your federal taxable income includes social security benefits, enter the taxable amount of social security on page 3 of your Form D-400, line 41.

You can only deduct supplemental benefits paid by the railroad under the provisions of the Railroad Retirement Act. If you were an employee of a railroad company and received a distribution from the company's retirement plan, this amount does not qualify for the deduction because it was not paid under the provisions of the Railroad Retirement Act. If your federal taxable income includes Railroad retirement benefits received under the provisions of the U.S. Railroad Retirement Act, enter the taxable amount on page 3 of Form D-400, line 41. This amount will become part of the total line 9 amount on page 1 of your Form D-400.
I get S/S, Federal Government pension and distribution from a retirement fund. What portions (other income included) are taxable in NC?

Also.... I retired Jan 31, 06. There was state income tax deducted for the month of Jan. My other income sources do not deduct state tax. I paid the state in full prior to tax deadline of April 17th. Now I get a bill for interest penalty because I "underestimated" my tax liability. Why do I owe the state? I paid my taxes prior to the deadline?
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Old 07-30-2007, 08:17 PM
 
Location: Blue Ridge Mtns of NC
5,661 posts, read 25,950,676 times
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Quote:
Originally Posted by Conserv_man View Post
I get S/S, Federal Government pension and distribution from a retirement fund. What portions (other income included) are taxable in NC?
Individual Income Tax
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