Taxability of Non-Resident Pensions
In the attached audio clip (click on photo above to listen), Spidell Publishing’s “California Minute” discusses a questions that comes up a lot. What is that taxability of non-resident pensions? These are situations in which you earn a pension in one state, and then retire in another.
Under both federal law and California R&TC §17952.5, qualified pension payments paid to former California residents are not taxable by California.
(This is Blog Post #595)
Spidell Publishing, Inc. has been a critical source of California tax information for tax professionals since 1975, promoting ideas, references, solutions, and guidance, plus news and commentary covering all aspects of tax and its administration.
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About the Author: Roger Rossmeisl, CPA
Roger Rossmeisl, CPA, brings over 40 years of experience helping small business owners who have outgrown their current CPA firm and larger companies seeking responsive, cost-effective solutions they’re not receiving from their current CPA Firm. He goes beyond tax compliance, explaining the “why” behind the numbers and their impact on cash flow and other decision making.
An avid follower of federal monetary policy, Roger adds insight into how government actions affect business and wealth. With a niche in franchised new vehicle dealerships, he has served over 100 franchise stores and groups through decades of evolving IRS rules and legislation.
