Is my military retirement annuity/pay taxed at the same rate as regular income, or is there a special tax rates for annuities?
2007-12-08 05:21:01 · 3 answers · asked by Tanker 1 in Business & Finance ➔ Taxes ➔ United States
Yes, it's taxed as ordinary income. No Social Security or Medicare taxes are levied on it, just income taxes.
Some states grant an exemption to retirement annuities, military or otherwise. Consult with your state tax authorities on your state's treatment of your retired mil pay.
2007-12-08 05:28:08 · answer #1 · answered by Bostonian In MO 7 · 1⤊ 0⤋
If she's a US citizen or lawful permanent resident she is still subject to US tax law and will pay Federal income taxes on it. If she is not a citizen or LPR then it's not taxable by the US. Her home country can and probably will tax it however.
2016-05-22 04:34:03 · answer #2 · answered by julieta 3 · 0⤊ 0⤋
Same as regular income!
2007-12-08 06:01:45 · answer #3 · answered by Linda L 2 · 1⤊ 0⤋