Direct answer
Yes, New York considers the interest portion of annuity distributions as taxable income for state residents, though specific pension and annuity exclusions may apply for individuals over age 59.5.
New York State Department of Taxation and Finance regulations on annuity and pension income. For additional information about the taxation of retirement income, see the New York State Department of Taxation and Finance‘s official website.
What this means for you
Yes, New York considers the interest portion of annuity distributions as taxable income for state residents, though specific pension and annuity exclusions may apply for individuals over age 59.5.
FARMER STOCKMAN
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