Best State Tax Deals For Seniors
July 26th 2010 00:23
Pennsylvania
The Keystone State exempts Social Security income and all private and public pension payouts, including IRA withdrawals, from its flat 3.07% state income tax. Also, taxpayers can deduct from their state taxable income up to $13,000 a year in contributions ($26,000 per couple) to each grandchild's or other beneficiary's 529 college savings plan (even out-of-state plans). Beware, however, Pennsylvania's quirky inheritance tax.
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