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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10508
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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Currently living in Utah, own property in Colorado and

Customer Question

currently living in Utah, own property in Colorado and receive a state pension from Colorado. Is there a way around paying income tax to Utah on my pension?
Submitted: 1 year ago.
Category: Tax
Expert:  Lane replied 1 year ago.

Hi, Yes, federal law mandates that pensions are taxed only by the state of residency. If you can show (through drivers license, voter registration, bill addresses, etc.) that Utah is your resident state, Colorado cannot tax. But so sorry, the pension IS taxable on Utah (but NOT Colorado).

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You COULD make the case that since you own property in Colorado, your presence in Utah is transitory.

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One thing that runs constant in state tax law is that (1) They all want you to be a resident there (tax everything) (2) you can only have one domicile ... and it's always driven by where you "intend to return."

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Let me know if you have questions.

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Lane

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I hope you'll rate me positively, using the stars on your screen … (that's the only way we get credit for the work here) … based on thoroughness and accuracy, rather than any good news/bad news content ... Hopefully, having all the facts will help you make an informed decision.

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