If you receive a Form 1099-INT for interest income on deposits that were frozen at the end of 2014, see Frozen deposits under How To Report Interest Income in chapter 1 of Publication 550, for information about reporting this interest income exclusion on your tax return.
What are the most income tax-friendly states for retirees? That would be the seven states â Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming â that donât tax personal income; and the two states â New Hampshire and Tennessee â that collect income tax only on interest and dividend income.
States like Delaware, Hawaii, New Mexico, South Dakota, and Washington tax most services. Still others, like Texas and Minnesota, are actively expanding service taxability. Your business must determine which services require sales tax collection, and capture variations in inter- and intra-state transactions.