State Income Tax Residency Issues and Retirement Income
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Speaker : ANTHONY P.CURATOLA
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When : Tuesday, August 12, 2025
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Time : 01 : 00 PM EST
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Tony Curatola is the Joseph F. Ford Professor of Accounting and Tax at Drexel University in Philadelphia. Tony’s area of research is the taxation of individuals, small businesses owners, and retirement income. He has authored over 200 articles in his field and has completed sponsored research for external groups. His findings have appeared in media such as Forbes, The Washington Post, Wall Street Journal, and The New York Times. He is the former editor of the tax column for Strategic Finance, and the author of several interactive education courses for CeriFi (formerly Thomson Reuters courses). He holds a variety of leadership positions in accounting associations, including the Institute of Management Accountants. Dr. Curatola earned his B.S. in Accounting ’75 and MBA in Finance ‘77 from Drexel University, M.A. in Accounting ’79 from The Wharton School of the University of Pennsylvania, and Ph.D. in Accounting ‘81 from Texas A&M University.
IRAs were introduced in 1972 as a way for wage earners to invest in their own retirement plan. The rules associated with IRAs at the federal level are consistent across the country, but not all states have adopted these same rules. As a result, a person that moves from one state to another needs to realize that the state tax rules may not be the same. In some situations, the taxpayer may incur a double state tax on some of their investment, while another taxpayer may incur a tax subsidy from the move. These differences are generally not considered by a taxpayer until the move has occurred and a distribution has been made. This issue becomes more complicated when an individual lives in one state and works in another state. Now, it becomes more critical to establish residency by the taxpayer.
In this webinar, we look at the general rules associated with IRAs and focus our attention on those states with rules that differ from those rules in the areas of contributions, deductions, distribution, and penalties, to name a few. But one must realize that state tax rules not only change more frequently than the federal law but also are generally more difficult to track down. States, unlike the federal government, do not publish committee reports associated with state tax law changes.
Areas Covered
- Discuss the general rules associated with investing in an IRA, ROTH IRA, SIMPLE IRA, and SEP IRA.
- Introduce the states with IRA rules that differ from the general group of states.
- Present the state tax rules associated with inherited IRAs.
- Discuss the retirement or pension exemptions amounts applicable in some states.
- Identify the SECURE 2.0 provisions applicable to IRAs.
- Discuss the status of pending legislation.
Who Should Attend
Tax preparers, CPAs, Accountants, Local and regional accounting firms, Financial Planners, Consultants
Why Should You Attend
Although the federal income tax laws are uniform across the country, the same cannot be said for the 50 states. Taxpayers in 43 states and the District of Columbia incur some form of state income tax while taxpayers in seven states incur no state income tax. In addition, some states have different rules on the treatment of contributions to distributions from, and exclusion amounts to an IRA, SIMPLE IRA, and an SEP. States also have different tax rules that apply to the IRA’s basis that a taxpayer has in one state and then moves to another state, and to a beneficiary inheriting an IRA from a decedent. And of course, penalties may differ across states when a taxpayer takes an early distribution from their IRAis taken.
In this webinar, we introduce and illustrate the general issues associated with the various state tax treatments to a taxpayer and their IRA transactions. We do not cover all the rules applicable to each state. But we will introduce any recent tax legislation that may impact this area of the law.
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$160.00
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