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Tax Credit For Public Retirement Income In Rhode Island
Article explains a tax credit for seniors and public retirement recipients. Persons 65 or older or under 65 but retired from a public system may claim up to 240.08 single or 490 joint. Credit applies to the first 1,200 of retirement income and excludes tax exempt or Social Security. For under 65, income from personal services over 900 or between 65 and 72 over 1,200 reduces the credit. Married couples over 63 may obtain higher exemptions and credits, potentially yielding tax free income up to about 4,998.
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District of Columbia