Ask a Question

Is retirement income from another state taxable in Wisconsin?

+2 votes
I have lived in Wisconsin for eight years. I will be receiving a lum sum retirement from a copy I worked for in Texas.
asked Sep 26, 2012 in State Tax by anonymous
   

1 Answer

+2 votes

Only two states exempt all retire income, so unless you're able to retire in a state with no income tax (which may have high taxes in other areas), you should consider state income taxes before deciding where to retire. If you retire in Wisconsin, your income is generally subject to state income tax. But certain types of retirement income are completely exempt and you may be able to deduct a portion of other retirement benefits. Tax rates range from 4.6% up to 7.75% For more information you can refer this link.
http://taxes.about.com/od/statetaxes/a/State-Income-Taxes-In-Retirement.htm

answered Dec 27, 2013 by bbrown Inquisitive Expert (97,580 points)

Categories

ExplainPlease on Facebook

75,014 questions

48,874 answers

1,169 comments

82,984 users

CuriousGirl313,480
BobTheAnswerGuy310,070
smartguy111,120
charlie100,740
bbrown97,580
answerwiz94,860
The.Sage93,460
amanda0192,460
kfox83,500
lsmith82,840
...