Kansas
Kansas taxes Social Security benefits, but those benefits are usually exempt for taxpayers whose federal adjusted gross income is $75,000 or less, as the State confirmed.
Individual income tax rates can range from 3.1 to 5.7 percent. Even so, income from military pensions, federal civil service annuities, and different state pensions are exempt from state taxation.
Kentucky
Kentucky doesn’t tax Social Security income. The individual income tax rate is 5 percent. Kentucky is offering an exclusion for the first $31,110 of retirement income.
Louisiana
Louisiana doesn’t tax Social Security income. Individual income tax rates can range from 2 to 6 percent. Seniors might be eligible for a retirement-income exclusion, as Louisiana’s Department of Revenue explained, if: “The persons are 65 years or older. Then, they can exclude up to $6,000 of their annual retirement income from their taxable income.
Taxpayers that are married and filing jointly AND are 65 or older can exclude up to $6,000 of their annual retirement income. If there’s one spouse that has retirement income, the exclusion will be limited to $6,000.”
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?