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Military Pension Change – Federal is Taxable, State Tax is Now Exempt – How-to Forum – Pralana Retirement Calculator Forum
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Military Pension Change - Federal is Taxable, State Tax is Now Exempt

 
How-to Forum
Last Post by Splusten 5 years ago
5 Posts
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 Splusten
(@schenberger931)
New Member Customer
Joined: 6 years ago
Posts: 4
Topic starter November 20, 2021 12:12 pm  

Stuart,

My state of residence, North Carolina, last week enacted a law making military pensions exempt from state income tax. I was trying to tweak my plan in PRC Gold 2021 and believe the state tax treatment of military pensions is accounted for behind the scenes when one selects pension type and state of residence.

Is there anything I can do to reflect this change, or do I need to wait for an update?

I'd be happy to send you links to updated military pension state tax statuses if you'd like; there have been several other changes in 2021.

Thanks!


   
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Topic Tags
military pension state tax
 Stuart Matthews
(@smatthews51)
Member Admin
Joined: 6 years ago
Posts: 618
November 22, 2021 12:21 pm  

Hi, there's really nothing you can do about this right now but I'll try to get this change implemented in the 2022 model. And, yes, I would appreciate it if you would email (mail@pralanaconsulting.com) me the links to the supporting information. Thanks!


   
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 Splusten
(@schenberger931)
New Member Customer
Joined: 6 years ago
Posts: 4
Topic starter January 30, 2022 12:11 pm  

Stuart,

I didn't see any mention of the above issue in your summary of changes for the 2022 version. Were you able to address it?

Thanks,

Walt


   
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 Stuart Matthews
(@smatthews51)
Member Admin
Joined: 6 years ago
Posts: 618
January 31, 2022 8:12 am  

@schenberger931 Hi Walt, I'm embarrassed to say that I overlooked it the flurry of doing beta testing of PRC2022 but I took care of it this morning. V1.8.1 has now been uploaded to make military pensions fully deductible in North Carolina.


   
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 Splusten
(@schenberger931)
New Member Customer
Joined: 6 years ago
Posts: 4
Topic starter February 1, 2022 8:40 am  

Thanks!


   
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Topic Tags:  military pension (1) , state tax (1) ,
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