Pennsylvania Pud Worksheet

State:
Multi-State
Control #:
US-OG-457
Format:
Word; 
Rich Text
Instant download

Description

This form is is a worksheet forgathering information on proved undeveloped locations.

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FAQ

Does PA tax 401k distributions? At the state level, 401k distributions are generally not taxable in Pennsylvania. The same exception stated above for IRA accounts applies to 401k accounts as well. Distributions from pre-tax 401k accounts are generally taxable at the federal level.

If you are a PA resident, your basis is the sum of all your contributions you made into that particular retirement plan through the years less the sum of all your distributions made from that retirement plan through the years.

Retirement income is not taxable: Payments from retirement accounts like 401(k)s and IRAs are tax exempt. PA also does not tax income from pensions for residents aged 60 and over. Social Security income is not taxable: Just like with a pension, in Pennsylvania, Social Security is tax exempt.

Some types of income are exempt from Pennsylvania state income tax, including child support, alimony, unemployment payments, and some capital gains on the sale of a primary residence. Some deductions are allowed for contributions to educational savings accounts and medical or health savings accounts.

For Pennsylvania personal income tax purposes, the term ?compensation? includes salaries, wages, commissions, bonuses and incentive payments whether based on profits or otherwise, fees, tips and similar remuneration received for services rendered as an employee or casual employee, agent or officer of an individual, ...

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Pennsylvania Pud Worksheet