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MS 2024 Single 100Kintrec50K50Kgssi25Kpension #276

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feenberg opened this issue Feb 22, 2025 · 0 comments

feenberg commented Feb 22, 2025

MS 2024 Single 100Kintrec50K50Kgssi25Kpension
See

http://taxsim.nber.org/out2psl/ms5

Emulator shows Taxable Income of $115200 while TaxAct shows $90,200. Difference appears to be the taxation of pensions.

At MS department of revenue website https://www.dor.ms.gov/individual/individual-income-tax-faqs see:

Generally, retirement income, pensions and annuities are not subject to Mississippi Income tax if the recipient has met the retirement plan requirements. Early distributions are not considered retirement income and may be subject to tax.

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