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While West Virginia will eventually phase out its state income tax on Social Security benefits in three years thanks to a newly passed law, for the time being individuals who make less than ...
Before this decision, only seniors making up to $50,000 a year — or $100,000 if married and filing jointly — could deduct Social Security benefits from West Virginia state taxes.
As of the 2022 tax year, most seniors in New Mexico are exempt from Social Security taxes, thanks to changes in the law. Seniors with incomes below the following levels will not have to pay taxes ...
For example, in Colorado, residents ages 65 and older have been able to fully deduct federally taxed Social Security benefits on their state income tax returns since tax year 2022. For 2025, that ...
Here are the nine states that tax Social Security benefits in 2025: Colorado. Connecticut. Minnesota. Montana. New Mexico. Rhode Island. Utah. Vermont. West Virginia. ... like a 401(k) and an ...
This could result in an additional $930 in taxes for self-employed individuals who pay both the employee and employer portions of the 12.4% Social Security tax. Traditionally employed workers who ...