648640
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

mjailshie
New Member

Is my retirement systems of alabama pension income taxable to north carolina where i now live

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
TomK
Expert Alumni

Is my retirement systems of alabama pension income taxable to north carolina where i now live

North Carolina exempts all Social Security retirement benefits from income taxes. Other forms of retirement income are taxed at the North Carolina flat income tax rate of 5.499%.  Unlike many other states, North Carolina does not allow deductions on any type of retirement income. However, the North Carolina standard deduction is fairly large.

Individual Income Tax: https://www.ncdor.gov/taxes-forms/individual-income-tax

Is my retirement systems of alabama pension income taxable to north carolina where i now live

There is the Bailey Settlement exemption for pensions from Federal/Military and "NC"-Public pensions...but that does not apply to other state's Public pensions..nor IRA's, nor normal corporate pensions.

<a rel="nofollow" target="_blank" href="https://www.ncdor.gov/taxes-forms/individual-income-tax/bailey-decision-concerning-federal-state-and...>
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
mjailshie
New Member

Is my retirement systems of alabama pension income taxable to north carolina where i now live

I didnt think so what my reading but wanted to make sure. THank you.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question