What about Social Security?Â
Since 1983, Social Security payments have been a constant subject of taxation by the federal government. Sure, just how much of an individual’s benefits might get taxed might vary, depending on their combined income, nontaxable interest, and also half of their Social Security benefits and filing status.
However, it’s worth noting that no matter how much it will show at the Internal Revenue Service calculation, the amount will never exceed 85% of the total benefit. Here’s a list of states that impose a tax on Social Security:
1 thought on “7 States That Don’t Tax Your Pension, 401(k), Social Security, and More”
Why can’t Virginia be one of the; NO TAX STATE!!! Is it because it’s so close to D.C.???