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Can I exempt pension distributions from NJ Div of Pension and Benefits from my SC tax return up to the amount of contributions already taxed by NJ over my career?
More details:
Worked in New Jersey entire career. Made payroll contributions to the New Jersey Division of Pension and Benefits many years. Each year NJ collected income tax on the contributions. For example over the years contributions were say $180,000.
After retirement, if living in NJ, under the "3-year rule" you would not pay NJ tax on pension income until you reached the contribution amount. For example year one income $70,000 no NJ tax, year two income $70,000 no NJ tax, year three income $70,000 NJ tax on $30,000...
I retired in 2015 and moved to South Carolina. Is there any way to relate the NJ 3-year rule to my SC return?
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‎June 6, 2019
2:46 AM