What percentage does state take from my 401k plan if I withdraw it

Jenkins18 · ‎September 2, 2020

xmasbaby0 · ‎September 2, 2020

You have not told us what state you are asking about.

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Opus 17 · ‎September 3, 2020

Your state will tax 401(k) withdrawals as ordinary income, there is no additional penalty or special tax at the state level. So it depends on your state and your other income. It could be a low as 3-4% or as high as 13% in California.

You can try looking up your state tax brackets here. Add up all your taxable income including the amount of the 401(k) withdrawal and look at the top tax bracket for your income and marital status; your withdrawal will be taxed at that top rate.

https://taxfoundation.org/state-individual-income-tax-rates-and-brackets-for-2020/