A phosphate group is removed from ATP to form ADP. A phosphate group is removed from ATP to form ADP.
If you invest in a retirement annuity that is not part of an employer-sponsored program or a commonly recognized retirement program, you may have Pennsylvania taxable income when you begin receiving annuity payments.
The tax-free part of Al's total annuity is $2,784 ($2,508 + $276). The taxable part of his annuity is $9,216 ($12,000 â $2,784). The exclusion over the years cannot exceed the net cost of the contract (figured without any reduction for a refund feature) if the annuity starting date is after 1986.