* Read Responses * Post a Response * Post a NEW Message * Return to the Forum *
* Previous Message * * Previous Response * * Next Message
Distributions from Retirement Plans Partially Exempt
In response to 140793: Retirement, posted by Jim L3 on Sunday, 2 April 2017, at 8:40 a.m.
Distributions from Non-Government Retirement Plans can also be partially exempt from Hawaii State Income Taxes.
Start looking at the history of the assets contributed to your retirement plan. Money from your own contributions and growth thereon is taxed, while funds from your employer and gains thereon aren't.
Check out Tax Information Release No. 96-5.
So when I take a distribution from my retirement accounts, I take the distributions from the account that has the highest employER contributions as that portion is exempt (for now, anyway).
•(There are no responses to this message.)
Respond to the Message Above: