Monday, April 18, 2022

14 States That Won’t Tax Your Pension

Estate planningSome states have pension exclusion with limitations based on age and/or income. Most states tax “at least a portion of income from private sector defined benefit plans.” However, there are 14 states that don’t tax pension income at all, despite your age or how much money you have.

Below is a list of the 14 states that don’t tax pension income:

  • Alabama
  • Alaska
  • Florida
  • Hawaii
  • Illinois
  • Mississippi
  • Nevada
  • New Hampshire
  • Pennsylvania
  • South Dakota
  • Tennessee
  • Texas
  • Washington
  • Wyoming

See Rocky Mengle, 14 States That Won’t Tax Your Pension, Kiplinger, April 6, 2022.

Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.

Estate Planning – Generally, Income Tax | Permalink


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