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jmoskwiak
New Member

In Arkansas does distribution from a 403b considered a pension on the State Income deduction?

Can i take the 6000 dollar deduction against income on my state of Arkansas income tax? My income is from a 403b.

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DS30
New Member

In Arkansas does distribution from a 403b considered a pension on the State Income deduction?

Yes -  your 403(b) distribution qualifies for the $6,000 Arkansas exemption.

You are eligible for the $6,000 exemption for retirement benefits provided the distribution was from public or private employment-related retirement systems, plans, or programs. (The re­cipient need not be retired.) The method of funding is irrelevant. The exemption may be taken from either lump-sum or installment payments. The early withdrawal penalty may be applicable even though the exemption is granted

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1 Reply
DS30
New Member

In Arkansas does distribution from a 403b considered a pension on the State Income deduction?

Yes -  your 403(b) distribution qualifies for the $6,000 Arkansas exemption.

You are eligible for the $6,000 exemption for retirement benefits provided the distribution was from public or private employment-related retirement systems, plans, or programs. (The re­cipient need not be retired.) The method of funding is irrelevant. The exemption may be taken from either lump-sum or installment payments. The early withdrawal penalty may be applicable even though the exemption is granted

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