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West Virginia will slowly eliminate state income tax on Social Security benefits over the next three years, thanks to a new law passed in March 2024. ... South Dakota. Tennessee. Texas.
Federal Tax Filing Type. Combined Income. Percentage of Social Security Benefits That Are Taxable. Single. Less than $25,000. 0%. $25,000 to $34,000. Up to 50%
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 ...
For example, if you receive $20,000 per year from Social Security and live in my home state of South Carolina, which has a top 7% marginal tax rate, you could save as much as $1,400.
South Carolina. South Dakota. Tennessee. Texas. Virginia. ... Social Security retirement income is tax-exempt there as well. By the way: Feeling compelled/pressured to join the crowd, many of the ...
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 ...
State taxes on Social Security benefits are different based on which state you live in.
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: