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These 13 states tax Social Security benefits, too
When taxation of Social Security benefits began in 1984, it was only expected to affect about one in every 10 senior households. Then in 1993, the second tier of taxation was implemented that allowed up to 85 percent of benefits to be taxed at the federal level. Unfortunately, none of these income thresholds have ever been updated to account for inflation, so now, the tax affects one in every five senior households. But there are 13 states that tax Social Security benefits to some varied degree. Read attached article to find out which states and how the taxation is formulated. Click here…
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