I receive a monthly retirement from the State of Ga. I became a Florida resident in 2016, do I still have to pay GA income tax on my retirement?
Yes, you are correct, the Pension Source Tax Act of 1996 would apply.
Therefore, you will not have to pay GA state income taxes on pension income if you are now a permanent resident of FL.
On
Jan. 10, 1996, P.L. 104-95 took effect. This federal law prohibits any state
from taxing pension income of non-residents, even if the pension was earned
within the state. So you have no GA filing requirement on this pension income
I am a permanent resident of Georgia but my income all comes from Florida, pension, Ira. Does this make a difference when filing state income tax?
@roc12 wrote:
I am a permanent resident of Georgia but my income all comes from Florida, pension, Ira. Does this make a difference when filing state income tax?
Georgia taxes all income from all sources so the pension income from Florida is Georgia taxable income that is reported on a Georgia state income tax return,
However, if you are a resident of Georgia and are age 62 thru age 64, $35,000 of your retirement income is excluded from being taxed by Georgia. If you are age 65 or older then $65,000 of your retirement income is excluded.