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Most retirement income is subject to state income tax in North Carolina, but residents with a taxable income of $47,150 or less are exempt. If your taxable income is between $47,151 and $238,200 ...
Some states impose state-level income tax as well, so be sure to research your state’s tax rules on pension income or speak with your accountant. ... You can use Worksheet 1 in IRS Publication ...
Prior to the end of 2024 the state did tax dividend and interest income -- often an important source of funding for retirees. As of the beginning of 2025, however, this tax has also been lifted ...
States with no income tax. Retirement distributions from 401(k) plans or IRAs are considered income for tax purposes. Fortunately, there are several places with no state income tax: Alaska ...
9 states with no state income tax. These states don’t tax your income, though you could end up paying taxes on stocks and other investments, depending on the state: Alaska. Florida. Nevada. New ...
Many states have no income tax at all, so all retirement income, as well as other income, is state tax-free. Most states specifically exclude Social Security benefits from taxation.