Georgia
Georgia does not tax any Social Security income. Also, those who have individual income tax rates might have to pay a range from 1 to 5.75 percent.
Even so, Georgia is one of the most tax-friendly states for seniors in America, because as Kiplinger explained: “Social Security income is exempt, that’s why is up to $35,000 of most types of retirement income for those who are aged between 62 to 64 years old.
For those who are 65 and older, the exemption is $65,000 per taxpayer.”
Hawaii
Hawaii doesn’t tax Social Security benefits. Individual income tax rates can range from 1.4 to 11 percent. However, there are many types of pensions that are exempt from state income taxes.
Idaho
Idaho doesn’t tax Social Security income. Individual income tax rates might range from 1.125 to 6.925 percent. Even so, tax deductions that include a retirement-benefits tax deduction are still available to some of the oldest residents in Idaho.
2 thoughts on “This Is How All 50 States Tax Your Retirement Income”
how much are senior,s taxed in kentucky?
I understand that the Maryland Legislature just changed how much retirees pay in income taxes. I have not been able to find out the specifics of the new law. When does it take effect? What are the income limits? Can I now reduce the State witholding from my Minimum Required Diatributions?