Pensions and annuities taxable only in recipient's state; annuity defined as periodic payments for adequate consideration. Pensions and similar remuneration paid to a resident for past employment are taxable exclusively in the State of residence. The term annuity is defined as ... Summary
Pensions and annuities taxable only in recipient's state; annuity defined as periodic payments for adequate consideration.
Pensions and similar remuneration paid to a resident for past employment are taxable exclusively in the State of residence. The term annuity is defined as a stated sum payable periodically at stated times during life or during a specified or ascertainable period, where payments are made in return for adequate and full consideration in money or money's worth.
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