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Remember, too, that living in a state that doesn't tax any retirement income won't mean no taxes. There's still the federal government, which does tax some Social Security benefits. The $ 22,924 ...
In 2025, Colorado residents between the ages of 55 and 64 will be exempt from state Social Security taxes if they have an AGI of less than $75,000 for single filers and $95,000 for joint filers ...
Instead of paying 85% on $20,000 ($17,000), Social Security would take the $17,000, add it to any other income you have, and then tax it at your regular tax rate.
Only 9 States Will Tax Social Security in 2025. Only nine states do or will continue to tax Social Security benefits in 2025. These include: Colorado. Connecticut. Minnesota. Montana. New Mexico ...
Retirees don’t pay state income tax on their Social Security benefits or pensions in Alabama. But your 401(k) and IRA withdrawals are fully taxable at the state’s 2% to 5% income tax rate ...
Colorado, for example, does not tax Social Security benefits of those who are 65 or older. And in Minnesota, those meeting certain income requirements can subtract up to $5,840 on their tax return ...
While Kansas previously allowed anyone with an adjusted gross income of $75,000 or less to exempt their Social Security benefits from state taxes, a bill passed in June 2024 now eliminates taxes ...
Filing As. Combined Income* Percentage of Benefits Taxable. Single individual. Between $25,000 and $34,000. Up to 50%. Married, Filing Jointly. Between $32,000 and $44,000