Annuity Taxes

Reply #2

RJOh — Fri, 12 Apr 2002 19:45:03 GMT

State not only make you pay state taxes on your lottery winning, but if you retired from a company in the state and move to another state, you still pay states taxes on your pension which you earned while a resident in that state. As times get tougher more state are going after retiree who have moved from the state and stopped paying state taxes on their penions. I think most states have such a law, you can check with your state tax department to be sure. In my case, the state taxes and the fede... [ More ]

Reply #1

Guest — Fri, 12 Apr 2002 18:09:26 GMT

I bet any financial advice you'd get will tell you to choose the LUMP SUM. What if the annuity company turns out to be another Enron

Annuity Taxes

Guest — Fri, 12 Apr 2002 17:42:56 GMT

Let's say a person lives in say..Ill.. and hits the big game. He/She elects the annuity vice the cash. Now this person moves to another state. Is the state tax for Ill still taken from the annual check