Military retirement pay in New York
Varies
Does New York Tax Military Retirement Pay?
Short answer: No. New York fully exempts U.S. military retired pay from state income tax. Other retirement income: Taxpayers 59½+ may exclude up to $20,000 per person of private pensions, annuities, and 401(k)/IRA distributions.
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 New York
Varies
Individuals / Personal Taxes
No. New York fully exempts U.S. military retired pay from state income tax. Other retirement income: Taxpayers 59½+ may exclude up to $20,000 per person of private pensions, annuities, and 401(k)/IRA distributions.
Business justification
No. New York fully exempts U.S. military retired pay from state income tax. Other retirement income: Taxpayers 59½+ may exclude up to $20,000 per person of private pensions, annuities, and 401(k)/IRA distributions. Military retired pay is taxable federally; VA disability compensation isn't taxed federally or by any state.
Category
- Personal Tax Deductions