Table of Contents Table of Contents
Previous Page  79 / 100 Next Page
Basic version Information
Show Menu
Previous Page 79 / 100 Next Page
Page Background

THE FOREIGN SERVICE JOURNAL

|

JANUARY-FEBRUARY 2017

79

to file an income tax return.

All federal pensions are tax-

able, but single taxpayers

who are over 65 or disabled

may exclude some income

if Federal Adjusted Gross

Income is under $33,700

and nontaxable Social

Security is under $9,600.

For a couple, the limits are

$42,000 for Adjusted Gross

Income and $12,000 for

nontaxable Social Security.

Statewide sales and use tax

is 6.875 percent; some local

additions may increase the

total to 9.53 percent.

MI SS I SS I PP I

Social Security, qualified

retirement income from fed-

eral, state and private retire-

ment systems, and income

from IRAs are exempt from

Mississippi tax. There is

an additional exemption of

$1,500 on other income if

over 65. Statewide sales tax

is 7 percent.

MI SSOUR I

Public pension income may

be deducted if Missouri

Adjusted Gross Income is

less than $100,000 when

married filing jointly or

$85,000 for single filers,

up to a limit of $36,442 for

each spouse. The maximum

private pension deduction is

$6,000. You may also deduct

100 percent of Social Secu-

rity income if over age 62

and Federal Adjusted Gross

Income is less than the lim-

its above. Sales tax is 4.225

percent; local additions may

add another 2 percent.

MONTANA

There is a $3,980 pension

income exclusion if Federal

Adjusted Gross Income is

less than $33,190. Those

over 65 can exempt an

additional $800 of interest

income for single taxpayers

and $1,600 for married joint

filers. Social Security is sub-

ject to tax. Montana has no

general sales tax, but tax is

levied on the sale of various

commodities.

NEBRASKA

U.S. government pensions

and annuities are fully tax-

able. Social Security is tax-

able. State sales tax is 5.5

percent, with local additions

of up to 2 percent.

NEVADA

No personal income tax.

Sales and use tax varies

from 6.85 to 8.1 percent,

depending on local jurisdic-

tion.

NEW HAMPSH I RE

No personal income tax.

There is no inheritance tax.

There is a 5-percent tax on

interest/dividend income

over $2,400 for singles

($4,800 married filing

jointly). A $1,200 exemption

is available for those 65 or

over. No general sales tax.

NEW J ERSEY

Pensions and annuities from

civilian government service

are subject to state income

tax, with exemptions for

those aged 62 or older or

totally and permanently dis-

abled. However, see this link

for the distinction between