Skip to main content
June 1, 2019
Solved

If Im living in florida but take money out my money purchase plan retirement that in based in ny do I pay ny state taxes

  • June 1, 2019
  • 1 reply
  • 0 views

I would like to know if I am living in florida but I withdraw money out of my money purchase retirement plan 1099-R from when I was working in NY, do I have to pay NY state taxes.

Best answer by ToddL

If you didn't live in NY in 2016, you would not need to file a 2016 NY tax return just because of NY-based retirement income.

Effective for retirement income received after December 31, 1995, federal law prohibits any state from taxing certain retirement income (mainly pension income) unless you are resident of, or domiciled in, that state. 

For example, if you receive a pension from your former NY employer and you now reside in FL, NY may not tax your retirement income. 

1 reply

ToddLAnswer
Employee
June 1, 2019

If you didn't live in NY in 2016, you would not need to file a 2016 NY tax return just because of NY-based retirement income.

Effective for retirement income received after December 31, 1995, federal law prohibits any state from taxing certain retirement income (mainly pension income) unless you are resident of, or domiciled in, that state. 

For example, if you receive a pension from your former NY employer and you now reside in FL, NY may not tax your retirement income.