Missouri
Even if Missouri’s Social Security income tax rate could be as high as 5.4%, the range could also go as low as 0%. Single filers and couples who file together and are 62 years and older with an AGI of less than $85,000 and $100,000, might be able to completely deduct their Social Security benefits. Even more, those who are in a higher income bracket might still qualify for a partial deduction.
Montana
In this state, the Social Security income tax rate usually ranges from 1% to 6.75%. The same as the federal tax, retirees with an AGI smaller than $25,000 (for single filers) and $32,000 (for married couples) won’t be subject to any tax on their Social Security benefits.
Of course, this isn’t the case for residents in higher income brackets. Montana normally uses a completely different method than the federal government when it comes to calculating the total amount that a citizen has to pay.
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.???