NY · Tax Year 2026
How New York taxes Social Security, pensions, 401(k)/IRA withdrawals, and military retirement pay in 2026.
$20,000 per person eligible private pension/IRA/plan income; qualifying federal/New York public pensions and military fully exempt
$20,000 exclusion generally age 59.5+
Additional Notes
Some employer-plan distributions have periodic-payment rules
Does New York tax Social Security benefits?
No. New York does not tax Social Security retirement benefits.
Does New York tax pension income?
Partially. New York provides exemptions for certain types of pension income — often public, government, or military pensions — while private pensions may be partially or fully taxable. See eligibility details above.
Does New York tax 401(k) and IRA withdrawals?
Yes, traditional 401(k) and IRA withdrawals are generally taxable in New York. However, exclusions or credits may apply depending on your age and income — review the details above.
Is New York a tax-friendly state for retirees?
It depends on your income mix. New York offers some retirement income relief, but the rules vary by income type and eligibility. Review the details above and consider consulting a tax professional for your specific situation.
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Data Source
Official New York state tax authority guidance. Tax year 2026. Some annually indexed thresholds may not yet be finalized — confirm with the state revenue department before filing.
Related for New York
Data reflects tax year 2026 rules sourced from official New York state tax authorities. This page is for informational purposes only — always confirm current rules with the state revenue department or a qualified tax professional before making financial or relocation decisions.