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Tax of retirement income by former state
Journal article

Tax of retirement income by former state

Strategic finance (Montvale, N.J.), Vol.77(10), p14
01 Apr 1996

Abstract

Compensation plans Distribution of retirement plan assets Income taxes Life expectancy Retirees Retirement income State taxes Tax benefits Tax legislation Tax rates Tax returns Taxation
Tax bill HR 394, also known as the Ban on Source Taxes, prevents states from taxing their former residents on qualified and, in some cases, nonqualified retirement income. Retirees receive a tax benefit when they made a contribution to their qualified retirement plan and, by moving to another state with a lower or no tax rate, are able to avoid the tax to the former state.

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