Military retirement pay in Mississippi
Varies
Does Mississippi Tax Military Retirement Pay?
Short answer: No. Mississippi fully exempts military retired pay, along with qualified retirement income, from state income tax. Other retirement income: Qualified retirement income from federal, state, and private pension plans, 401(k)s, and IRAs is exempt if plan requirements are met. Early (premature) distributions are taxable.
Military retired pay is taxable federally; VA disability compensation isn't taxed federally or by any state.
Records to keep: Keep your state return, W-2s and 1099s (1099-R, SSA-1099), and any state credit worksheets. Check your state revenue department's current-year instructions before you file.
Military retirement pay in Mississippi
Varies
Individuals / Personal Taxes
No. Mississippi fully exempts military retired pay, along with qualified retirement income, from state income tax. Other retirement income: Qualified retirement income from federal, state, and private pension plans, 401(k)s, and IRAs is exempt if plan requirements are met. Early (premature) distributions are taxable.
Business justification
No. Mississippi fully exempts military retired pay, along with qualified retirement income, from state income tax. Other retirement income: Qualified retirement income from federal, state, and private pension plans, 401(k)s, and IRAs is exempt if plan requirements are met. Early (premature) distributions are taxable. Military retired pay is taxable federally; VA disability compensation isn't taxed federally or by any state.
Category
- Personal Tax Deductions