are pensions taxable in south carolina
If the employee is working in South Carolina, regardless of where he/she is a resident, the income earned in South Carolina is taxed by South Carolina. If a South Carolina resident is earning wages in a state that does not have a state income tax, the withholding should be for South Carolina. Additional amount, if any, you want withheld from each monthly annuity payment. Note: For monthly annuity payments, you cannot enter an amount here without entering the number (including zero) of allowances on line 2. This amount will be withheld in addition to the amount calculated using the marital status and allowances from line 2 above. 1 North Carolina: The $2,000 deduction for income from private retirement plans is repealed beginning with the 2014 tax year.  Oregon: The pension income credit against personal income taxes was extended for an additional six years. Please register to participate in our discussions with 1.5 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads. Note: For monthly annuity payments, you cannot enter an amount here without entering the number (including zero) of allowances on line 5. This amount will be withheld in addition to the amount calculated using the marital status and allowances from line 5 above. While some states tax pension benefits, only 14 states impose tax on Social Security income: Colorado, Connecticut, Iowa, Kansas, Minnesota, Missouri, Montana, Nebraska, New Mexico, New Jersey, North Dakota, Rhode Island, Vermont and West Virginia. THE LANGUAGE USED IN THIS DOCUMENT DOES NOT CREATE ANY CONTRACTUAL RIGHTS OR ENTITLEMENTS AND DOES NOT CREATE A CONTRACT BETWEEN THE MEMBER AND THE SOUTH CAROLINA RETIREMENT SYSTEMS. THE SOUTH CAROLINA RETIREMENT SYSTEMS RESERVES THE RIGHT TO REVISE THE CONTENT OF THIS DOCUMENT. States generally taxing pension income include: Arizona, California, Connecticut, District of Columbia, Idaho, Indiana, Kansas, Massachusetts, Minnesota, Nebraska and North Carolina beginning with the 2014 tax year, North Dakota, Rhode Island, Vermont and West Virginia. Among states announcing or proposing changes to income tax for retirement plans in 2013 include: Kentucky: The Kentucky Blue Ribbon Commission on Tax Reform’s proposed reduction in the individual income tax pension exclusion from $41,110 to $30,000 was introduced but not enacted. States exempting a portion of pension income include: Arkansas, Colorado, Delaware, Georgia, Hawaii, Iowa, Kentucky, Louisiana, Maine, Maryland, Michigan, Missouri, Montana, New Jersey, New Mexico, New York, Oklahoma, South Carolina, Utah, Virginia and Wisconsin.
No, States exempting a portion of pension income in South Carolina.