A phosphate group is removed from ATP to form ADP. A phosphate group is removed from ATP to form ADP.
If you invest in a retirement annuity that is not part of an employer-sponsored program or a commonly recognized retirement program, you may have Pennsylvania taxable income when you begin receiving annuity payments.
Contributions to an annuity are not tax-deductible, but taxes on earnings are deferred until you make a withdrawalâat which time you pay ordinary income taxes on your gains. There is a 10% penalty for withdrawing earnings before age 59Â½. Both fixed and variable annuities can be either deferred or immediate.