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TSP withdrawals and Kansas taxes
- Thread starter AClvks
- Start date
nnuut
Moderator | TSP Talk Royalty
- Reaction score
- 210
Welcome to the Forum AClvks
If Kansas has state taxes they are, but they only take 20% to cover Federal taxes you are responsible to pay state taxes when you file. That's the way it's in Georgia, but they don't tax government retirement checks here.
From: Richard.Cram
Sent: Thursday, October 17, 2013 2:08 PM
Subject: Re: TSP
(See attached file: Rep Meier Let 9-4-13.pdf)
Ms. Demaranville:
Attached is a pdf document of the signed letter you referred to. I respond
below to your questions.
1. The effective date of our interpretation change is September 4, 2013.
As indicated, we are not applying this change of interpretation
retroactively, so we would not apply it to prior year returns.
2. If a taxpayer rolls TSP funds into an IRA, then it is our
recommendation that those funds not be commingled with other funds that are
not exempt from Kansas income tax. A separate IRA account should be
established for such a rollover. If a taxpayer rolls TSP funds into
another retirement account that includes funds that are not exempt from
Kansas income tax, then it will be the taxpayer's responsibility to be able
to sufficiently document and substantiate the amount of any claim that any
portion of a distribution from such a retirement account is exempt as
federal retirement benefits.
Sincerely,
Richard Cram
Rep Meier Let 9-4-13.pdf
Sent: Thursday, October 17, 2013 2:08 PM
Subject: Re: TSP
(See attached file: Rep Meier Let 9-4-13.pdf)
Ms. Demaranville:
Attached is a pdf document of the signed letter you referred to. I respond
below to your questions.
1. The effective date of our interpretation change is September 4, 2013.
As indicated, we are not applying this change of interpretation
retroactively, so we would not apply it to prior year returns.
2. If a taxpayer rolls TSP funds into an IRA, then it is our
recommendation that those funds not be commingled with other funds that are
not exempt from Kansas income tax. A separate IRA account should be
established for such a rollover. If a taxpayer rolls TSP funds into
another retirement account that includes funds that are not exempt from
Kansas income tax, then it will be the taxpayer's responsibility to be able
to sufficiently document and substantiate the amount of any claim that any
portion of a distribution from such a retirement account is exempt as
federal retirement benefits.
Sincerely,
Richard Cram
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