the subject is not clear because it's too long to fit. here's the issue -
i heard on ric edelman's show this weekend that NJ is considering coming after taxes from retirees that worked/lived in NJ and then upon retirement moved to a state that does not have a state income tax. i think this was in reference to pensions but i did not catch the whole discussion.
now this is the real question - for decades people's contributions to 401k, 403b, all tax deferred plans were not taxed in the state they resided. now when you retire and start to take distributions from these plans your state will collect taxes. however, if you leave that state you resided in for decades and move to another state typically one that does not have a state income tax, can your distributions be taxed by your former state of residence? states are becoming desparate for revenue for their social spending programs and i can see a state like connecticut where i live loving this type of confiscation of wealth. hey,, they'd dig up dead bodies and steal their gold filling if they could in CT! so does a law exist or is one proposed that allows a state to tax my 401k distributions in retirement if i moved to a state that does or does not have a state income tax like flordia or new hampshire for example?
"Anyone who bought stocks in mid-1929 and held onto them saw most of his or her adult life pass by before getting back to even." — Richard M. Salsman