Pensions taxation: residence-based taxation with exemptions and specific rules for pension funds, social security, annuities, and support. Pensions and similar remuneration beneficially owned by a resident are taxable only in the State of residence, with an exemption where amounts arising in the other State would be exempt if the beneficial owner were resident there. Income earned by a pension fund established in the other State is not taxed as the individual's income unless paid to the individual (and not tax deferred transferred); in that case the residence rule for pensions applies. Social security payments are taxable only in the paying State. Annuities are taxable only in the resident State. Alimony is taxable only in the recipient's State; child support payments are tax exempt in both States.
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.
Pensions taxation: residence-based taxation with exemptions and specific rules for pension funds, social security, annuities, and support.
Pensions and similar remuneration beneficially owned by a resident are taxable only in the State of residence, with an exemption where amounts arising in the other State would be exempt if the beneficial owner were resident there. Income earned by a pension fund established in the other State is not taxed as the individual's income unless paid to the individual (and not tax deferred transferred); in that case the residence rule for pensions applies. Social security payments are taxable only in the paying State. Annuities are taxable only in the resident State. Alimony is taxable only in the recipient's State; child support payments are tax exempt in both States.
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