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Recently, GOBankingRates reported on the 41 states in America that won’t tax Social Security benefits in 2025. Missouri and Kansas elected to stop taxing Social Security benefits in 2024, as did ...
For the 2024 tax year, nine states tax Social Security benefits: Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont and West Virginia. All other states and the ...
Utah taxes Social Security benefits at its flat state income tax rate of 4.55% in 2024. But seniors and retirees may qualify for one of two tax credits:
Social Security payments to beneficiaries, which totaled $1.23 trillion in 2022, are generally financed by payroll taxes on workers in Social Security covered employment, trust fund reserves, and income taxation of some Social Security benefits.
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 the 2023 tax year, your employer has to stop taking out Social Security taxes when your income surpasses $160,200. You're still obligated to pay the taxes on all income less than that amount.