New Jersey Will NOT Tax Your Social Security in 2025 

New Jersey Will NOT Tax Your Social Security in 2025 

I was intrigued by an article I came across from GOBankingRates and it was talking about the states that do tax social security and the ones that do not tax your social security savings.

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According to H&R Block, How much of my Social Security is taxable income? "Up to 50% or even 85% of your Social Security benefits are taxable if your “provisional” or total income, as defined by tax law, is above a certain base amount. Your Social Security income may not be taxable at all if your total income is below the base amount."

Furthermore, according to GOBankingRates, "Not only can up to 85% of your Social Security benefits be subject to federal taxation, depending on your income, you could also face state income taxes on Social Security benefits. Fortunately, the list of states that tax Social Security is shrinking, and only nine will do so in 2025."

The good news for us is that New Jersey will NOT be one of the states that will tax social security benefits. Here are the states that WILL ....

• Colorado
• Connecticut
• Minnesota
• Montana
• New Mexico
• Rhode Island
• Utah
• Vermont
• West Virginia

Here is the list of states that will NOT tax social security benefits in 2025 ....

• Alabama
• Alaska
• Arizona
• Arkansas
• California
• Delaware
• Florida
• Georgia
• Hawaii
• Idaho
• Illinois
• Indiana
• Iowa
• Kansas
• Kentucky
• Louisiana
• Maine
• Maryland
• Massachusetts
• Michigan
• Mississippi
• Missouri
• Nebraska
• Nevada
• New Hampshire
• New Jersey
• New York
• North Carolina
• North Dakota
• Ohio
• Oklahoma
• Oregon
• Pennsylvania
• South Carolina
• South Dakota
• Tennessee
• Texas
• Virginia
• Washington
• Wisconsin
• Washington, D.C.
• Wyoming

According to Brian Kuhn CFP, CLU, SVP, and financial advisor at Wealth Enhancement Group, "Kuhn pointed out that you can calculate how much you’re saving on taxes — assuming you live in a state that does not tax Social Security benefits — by looking up the effective rate of tax you paid to your state for all taxed income sources and applying that to your total Social Security benefits."

So at least for 2025 New Jersey will NOT tax your Social Security Benefits. For any financial questions consult your financial expert for more detailed information.