Child care subsidies are generally taxable as income to the recipient. However, if an agency implements the child care subsidy program as a dependent care assistance program as described in section 129 of the Internal Revenue Code, amounts of up to either $2,500 or $5,000 may be excluded from gross income.
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There is a tax-free portion that represents a return of your contributions to the retirement plan. These contributions were previously taxed for federal and state income tax purposes and will not be taxed when received as part of your monthly annuity.
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Source taxes, now prohibited, were taxes imposed by certain states on retirement income of non-residents who had accumulated entitlement to benefits while a resident of that state. Retirement income is only state taxable, if at all, by the state in which the taxpayer resides.
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