Taxation of pensions and annuities limited to recipient's resident state, with exceptions for nonperiodic payments and social security. Pensions and other remuneration for past employment and annuities are generally taxable only in the recipient's State of residence. Non periodical payments in consideration of past employment may be taxed by the source State. Pensions under a social security system may be taxed by the paying State. Annuity is defined as a stated sum payable periodically during life or a specified period in return for adequate and full consideration.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxation of pensions and annuities limited to recipient's resident state, with exceptions for nonperiodic payments and social security.
Pensions and other remuneration for past employment and annuities are generally taxable only in the recipient's State of residence. Non periodical payments in consideration of past employment may be taxed by the source State. Pensions under a social security system may be taxed by the paying State. Annuity is defined as a stated sum payable periodically during life or a specified period in return for adequate and full consideration.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
