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.
Six states â Alaska, Connecticut, Iowa, Minnesota, New Jersey, and Pennsylvania, and the District of Columbia â levy top marginal corporate income tax rates of 9 percent or higher. Seven states â Arizona, North Carolina, North Dakota, Colorado, Mississippi, South Carolina, and Utah â have top rates at or below 5 percent.