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

 

Splusten
(@schenberger931)
New Member Customer
Joined: 11 months ago
Posts: 1
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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Stuart Matthews
(@smatthews51)
Member Admin
Joined: 1 year ago
Posts: 248
 

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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