One caveat to know: Washington has a 7% tax on long-term capital gains over $270,000 (2024). The idea of not having to pay state income taxes might sound appealing, but keep in mind that property ...

West Virginia enacted a law to begin phasing out the state income tax on Social Security over three years for individuals making under $50,000 and joint filers making under $100,000. For the 2024 ...

These are in addition to federal income taxes. Not all states have state income taxes. As of 2024, Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, and Wyoming don’t have an income tax.

The federal income tax collected by the IRS applies to all Americans regardless of where you live, but the rules for state income tax rates and how those taxes are paid can be vastly different.

In fact, 40% of Americans ages 65 and older rely on Social Security for at least half their income ... 2024. Kansas also joined in with a bill signed midway through 2024, so the state will not tax ...