taxes






 

Question by  jac (15)

If I am retired do I pay state income tax?

I am retired, do I have to pay state income tax?

 
+7

Answer by  Att4372 (1704)

Social Security is generally not taxable, if you have other income - pension, IRA, bank interest, dividends - you are subject to state income tax if your income is high enough. 47 states have income tax. CT is $14,000 before you pay. VT & PA have a $100 minimum.

 
+7

Answer by  Chaneygirl (1755)

Maybe. Each state has different rules on retirement income. Retirement income may be excluded or a part of it, but other income like interest, dividends and rental income would may still be taxed. Some states do not make any exceptions for retirement income, so only social security gets a break.

 
You have 50 words left!