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What does Louisiana tax a 403b pulled out early?
Posted on 3/15/23 at 4:58 pm
Posted on 3/15/23 at 4:58 pm
I have a small amount in a 403b account with an old employer. I’m a teacher and my new district uses a different supplemental provider. Thinking about just cashing it out. I know federal will take 20% what will louisiana take ?
This post was edited on 3/15/23 at 4:59 pm
4
Posted on 3/15/23 at 5:31 pm to OGtigerfan87
Bad idea. Just roll it into your new retirement account or an IRA.
Posted on 3/15/23 at 7:37 pm to OGtigerfan87
It's just taxed as income in LA. No additional penalty.
Posted on 3/15/23 at 8:41 pm to OGtigerfan87
What they’ll “take” and what you’ll actually owe are two different thing.
Posted on 3/16/23 at 9:32 am to OGtigerfan87
Play around with this calculator. It estimated even more federal than my very rough math.
early withdrawal calculator (Wells Fargo)
early withdrawal calculator (Wells Fargo)
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