If you receive a Form 1099-INT for interest income on deposits that were frozen at the end of 2014, see Frozen deposits under How To Report Interest Income in chapter 1 of Publication 550, for information about reporting this interest income exclusion on your tax return.
What are the most income tax-friendly states for retirees? That would be the seven states â Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming â that donât tax personal income; and the two states â New Hampshire and Tennessee â that collect income tax only on interest and dividend income.
In the map below, green states are the least dependent, while red states -- appropriately -- are the most dependent. The makingest state, according to the analysis, is Delaware. Delawareans -- this is really what they call themselves -- pay $1 in taxes for every 50 cents they get back from the federal government.Delaware also has the lowest rate of federal contracts received, as a proportion of federal tax dollars paid.oth states are highly dependent on federal funding as a percentage of state revenue. And New Mexico, especially, has lots of federal workers. The state with the lowest return on taxpayer investment is South Carolina. Its citizens pay $1 in taxes per capita for every $7.87 in federal funding received.