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Social Security plays a big role in many Americans' retirement security. In fact, 40% of Americans ages 65 and older rely on Social Security for at least half their income, according to the AARP ...
While 41 states plus Washington, D.C. don't require you to pay state taxes on your Social Security benefits, you could have to pay federal taxes on your benefits, regardless of where you live.
Taxes on Social Security benefits have been nixed in New Mexico for individual recipients with annual earnings less than $100,000, and married people making less than $150,000.
Image source: Getty Images. 41 states that don't tax Social Security benefits. I won't keep you in suspense. If your state is on the following alphabetical list, it doesn't have any tax on Social ...
States where you may have to pay taxes on Social Security. Unfortunately, 41 states not taxing Social Security means there are still nine states remaining that do: Colorado. Connecticut. Minnesota ...
State taxes on Social Security benefits are different based on which state you live in.
The one wrinkle to Social Security benefits is that retirees in 10 states may have their benefits taxed at the state level. The better news, though, is that this leaves 40 states where retirees ...
Unfortunately, while most states don't tax Social Security benefits, the federal government does. Specifically, up to 85% of your benefits may be taxed federally . The table below offers details: