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Do you pay state and federal taxes on Workmen's Compensation or Social Security Disability?
Wiki User
∙ 16y ago
Yes, but it is taxed differently then regular income, and like any income how much may be taxed depends on many other circumstances....other income, other deductions, other exemptions, etc. As this is a Federal benefit, the answer is the same for any State.
Refer to the Social Security worksheet in the 1040A IRS forms and Instructions book. Or go to IRS.gov and get much more information. Workmens Comp, which is a State program, varies from place to place, and how the premium was paid....but also on what you are collecting for. Generally, payments for loss of a limb for example are tax free. Payments for loss of earning (which would have been taxable) are taxable.
Wiki User
∙ 16y ago
Wiki User
∙ 13y agoYou may be required to pay federal taxes on a portion (50 or 85%) of your Social Security benefit if your total taxable income is $25,000 or more for a single person or $32,000 or more for a couple filing jointly.
You may also be required to pay some form of state tax if you live in Minnesota, Nebraska, North Dakota, Rhode Island, Vermont, West Virginia, Connecticut, Iowa (phasing out between 2008 and 2014), Kansas, Missouri (phased out after 2010 tax year), Montana, Colorado, New Mexico or Utah.
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What has the author Daniel N Price written?
Daniel N. Price has written: 'Workmen's compensation payments and costs, 1973' -- subject(s): Workers' compensation 'Historical statistics for five temporary disability insurance programs, 1942-1969' -- subject(s): Disability Insurance, Insurance, Disability 'Automatic increases in Federal compensation programs, 1964-75' -- subject(s): Cost-of-living adjustments, Wages, Pensions
