In which states ISN’T your pension taxed?
Well, this is good news, at least there are a few lucky people that won’t have to share the money they’ve worked so hard for their entire lives with the Government.
Unfortunately, on a federal level, most of your pension will be subjected to taxes. How much of it will be taxed is for the Government to decide by checking with their system how much you’ve contributed during your career and spreading that over the life expectancy in your retirement.
Here are 14 states that WON’T tax your pension: Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington, Wyoming, New Hampshire, Alabama, Illinois, Hawaii, Mississippi, and Pennsylvania.
On the next page we will learn about the states that don’t tax your 401(K) and IRA:
