NY Pension Taxed (York: income, property taxes, living)

[cropduster253]

Was dealt a bad blow today when I learned my New York pension is taxed at 7% in South Carolina any advice from anyone how that actually works or how to offset it a little. Lot of money to give up yearly. Don't say go to Florida.

[tmozer]

Originally Posted by cropduster253

Was dealt a bad blow today when I learned my New York pension is taxed at 7% in South Carolina any advice from anyone how that actually works or how to offset it a little. Lot of money to give up yearly. Don't say go to Florida.

Even though we were originally planning on being SC residents, we went for Florida residency for just that reason. This is the second year in a row I did not have to file a state income return.

[Lover of Animals]

[quote=cropduster253;33580258]Was dealt a bad blow today when I learned my New York pension is taxed at 7% in South Carolina any advice from anyone how that actually works or how to offset it a little. Lot of money to give up yearly. Don't say go to Florida.[/QUOT

It's offset two or three times over that 7% loss from what you save on property taxes and cost of living! Have you did your homework? If you had,you would know what an astronomical difference the property taxes are! The difference is unbelievable!

[Retire in MB]

State-by-State Guide to Taxes on Retirees - South_Carolina -Kiplinger Carolina
This shows the specific deductions that are available for retirement income.