Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 04-10-2014, 17:52   #1
Registered User

Join Date: Sep 2014
Posts: 2
State Tax on Retirement Checks

Dealing with the issues concerning retirement. Do states withhold income tax from federal retirement checks if you don't live in any state? Get mailing address in FL? Anyone work this out already?
__________________
svkatface is offline   Reply With Quote
Old 04-10-2014, 20:51   #2
Senior Cruiser
 
skipmac's Avatar

Cruisers Forum Supporter

Join Date: Oct 2007
Location: 29 49.16 N 82 25.82 W
Boat: Pearson 422
Posts: 12,374
Re: State Tax on Retirement Checks

There is no state income tax in Florida so if you establish legal residence here you will not have any state withholding.
__________________
The water is always bluer on the other side of the ocean.
skipmac is online now   Reply With Quote
Old 04-10-2014, 22:39   #3
Registered User

Join Date: Dec 2013
Location: Paradise
Boat: Various
Posts: 2,359
Re: State Tax on Retirement Checks

Quote:
Originally Posted by svkatface View Post
Dealing with the issues concerning retirement. Do states withhold income tax from federal retirement checks if you don't live in any state? Get mailing address in FL? Anyone work this out already?
Living in a state isn't a legal status or lack of one. The question is do you have residency in a state. The answer is you have residency in the last state until you go through the steps to establish it in a new state.

37 states have no tax on social security benefits. The other states generally fall into two groups. One group taxes on the same basis the IRS taxes benefits, so may or may not be taxed. The other group generally has some sort of deductions or exclusions based on many factors.

Florida often comes up as a state of residency as it is one of the easiest to establish. Many use St. Brendan's. But till you must be sure to take all the actions that will eliminate your prior residency. You can't maintain a house in the old state and then just establish a box in Florida and expect the old state to let you off.
__________________
BandB is offline   Reply With Quote
Reply

Tags
men, retirement

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Working Through Retirement - AKA Working Retirement CNC-Charters Boat Ownership & Making a Living 21 01-09-2012 20:58
Radio Checks Rick01541 Seamanship & Boat Handling 19 06-06-2012 16:59
Boaters Pissed about Security Checks on the Hudson dennisjay Our Community 12 13-06-2011 08:16
Daily Machinery Checks - What Do You Do ? Dockhead Engines and Propulsion Systems 8 25-11-2010 12:35
Crew Backgroud Checks nolasail Health, Safety & Related Gear 11 20-05-2009 05:59



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 19:01.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.