Retirement income in Arkansas
Varies
Does Arkansas Tax Retirement Income?
Short answer: Partly. Each taxpayer may exclude up to $6,000 of retirement income from employer pensions/plans and IRA distributions taken after age 59½ (one combined $6,000 limit per person).
Government pensions: Government pensions share the same $6,000-per-person exclusion. Pensions, traditional IRA and 401(k) withdrawals are taxable federally either way; Roth withdrawals after 59½ (5-year rule met) are tax-free.
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.
Retirement income in Arkansas
Varies
Individuals / Personal Taxes
Partly. Each taxpayer may exclude up to $6,000 of retirement income from employer pensions/plans and IRA distributions taken after age 59½ (one combined $6,000 limit per person).
Business justification
Partly. Each taxpayer may exclude up to $6,000 of retirement income from employer pensions/plans and IRA distributions taken after age 59½ (one combined $6,000 limit per person). Government pensions: Government pensions share the same $6,000-per-person exclusion. Pensions, traditional IRA and 401(k) withdrawals are taxable federally either way; Roth withdrawals after 59½ (5-year rule met) are tax-free.
Category
- Personal Tax Deductions