The Motley Fool Discussion Boards
Retirement Discussions / Retire Early CampFIRE
|Subject: Re: retire early study||Date: 2/12/2000 8:12 AM|
|Author: jpkiljan||Number: 3748 of 711835|
Another matter for anyone to consider in moving to another state is will you still be liable for taxes on your deferred compensation or other retirement program in your old state. For example, I work for the state of Colorado and also have a 401(k) plan--both are funded mostly with deferred income during my working career. I haven't checked, but it would seem unusual if Colorado allowed my employer (in this case the State itself) to pay me those deferred wages, without a substantial withholding, just because I was receiving those checks in another state. The taxes were deferred in this state and deferred doesn't really mean 'waived.' Of course, the rules probably vary by state. You might check with whomever is providing your pension checks and other deferred compensation payouts before you count on avoiding these taxes entirely.
-- Good luck, -- John
Foolishtomtom wrote in reply to Chips:
"In the matter of California and Arizona taxes: Nevada is, more or less, between those two
states, with ready access to them both. Nevada's state income tax rate is zero. I plan to
move there from California in May. C'mon, vote with your feet!"
' Chips, here's a question for ya: Suppose just before you move to NV from CA you exercise a bunch of
stock options & then quit (or perhaps you've exercised them recently). Now, once in NV, you sell. Will
CA come after you for their 9% ? I can't seem to get a straight answer on this, perhaps you can shed
|Copyright 1996-2013 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|