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posted Apr 15, 2024 11:48:27 AM

Does my Alabama Teacher’s Retirement System Income qualify for the Bailey Exception in North Carolina?

Does my Alabama Teacher’s Retirement System Income qualify for the Bailey Exception in North Carolina?

0 1 2036
1 Replies
Expert Alumni
Apr 15, 2024 6:15:36 PM

No. According to NC sources, the Bailey settlement affects the taxation of retirement benefits paid to former employees of the State of North Carolina, its local governments, and the federal government, including persons receiving these benefits as survivor beneficiaries.