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Military Pension Change - Federal is Taxable, State Tax is Now Exempt

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(@schenberger931)
New Member Customer
Joined: 3 years ago
Posts: 4
Topic starter  

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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(@smatthews51)
Member Admin
Joined: 4 years ago
Posts: 718
 

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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(@schenberger931)
New Member Customer
Joined: 3 years ago
Posts: 4
Topic starter  

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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(@smatthews51)
Member Admin
Joined: 4 years ago
Posts: 718
 

@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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(@schenberger931)
New Member Customer
Joined: 3 years ago
Posts: 4
Topic starter  

Thanks!


   
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