Fourteen of the 50 states tax Social Security benefits (through 2010):
Same rate as Federal Government
Tax Social Security based on Total Income
Adds Federally Untaxed Social Security Income back to AGI*
*These states apply broad age-determined income exclusions.
Depending on your income, up to 85% of your social security payments may be subject to federal income tax. Welcome to America!
No; Social Security tax (i.e., FICA) is collected from earned income only.
Bruce D. Schobel has written: 'A comparison of social security taxes and federal income taxes' -- subject(s): Income tax, Social security taxes 'A comparison of retirement benefits under the U.S. and Canadian social insurance systems' -- subject(s): Social security 'Experience of disabled-worker benefits under OASDI, 1974-78' -- subject(s): Disability Insurance, Insurance, Disability
No, Pennsylvania is not one of the fourteen states that taxes Social Security benefits.
Presumably the question is about U.S. Social Security taxes. Social Security taxes (commonly referred to as FICA taxes) are taken out of your earnings each time you receive a paycheck. This rule applies even if the employee is already receiving Social Security benefits. However, by continuing to work, future Social Security benefits may be increased to take into account the additional earnings.
Yes. At present, Missouri taxes Social Security benefits based on total income. This will phase out at the end of the 2010 tax year. There will be no state tax on benefits received in 2011.
No, California is not one of the fourteen states that levy taxes against Social Security benefits.
Your age does not affect the requirement to pay SS taxes. Yes, as you gain additional work credit, your benefits may increase.
No. North Carolina is not one of the fourteen states that taxes Social Security benefits.
No, Louisiana is not one of the fourteen states that taxes Social Security benefits.
NO
No. New York is not one of the fourteen states that taxes Social Security benefits (retirement or disability).
The Internal Revenue Service (IRS) is tasked with the responsibility for collecting most federal taxes, including the Social Security taxes. Social Security taxes are deposited into the United States Treasury and credit is given to the appropriate Social Security Trust Fund. The Social Security Administration (SSA) administers the Social Security programs and distributes the benefits to eligible recipients.
Some Social Security Disability beneficiaries have to pay federal income taxes on their Social Security Disability benefits, while others do not.