STATE TAX WITHHOLDING GUIDELINES ( Guardian Insurance & Annuity Company, Inc. and Guardian Life Insurance Company of America (hereafter collectively referred to as Company )) (Last Updated 11/2/215) state income tax rules vary depending on your primary state of residence at the time of distribution, your contract type and the type of distribution you request. For information regarding the specific state guidelines, please see the two tables below: state income tax guidelines generally fit into one of three categories depending on the type of annuity contract you own. se categories are as follows: 1. Income Tax ( ): s that do not impose a personal income tax or do not allow income tax. 2. Voluntary: You may voluntarily elect state income tax. If no option is selected, state income tax will not be withheld. If elected to withhold state tax but do not provide a percentage, we will withhold at the rate referenced below except for annuity pays. (Please note: for annuity pays, you must provide a percentage if you elect voluntary.. Mandatory (three types, confirm with your state): a. If federal income tax is withheld, state income tax will automatically apply. In some states, you may not opt of the mandatory state and the rate referenced below will apply. b. Some mandatory states, state income tax will apply regardless of whether federal income tax is withheld, unless a state required form is submitted. c. Opt If federal income tax is withheld, you may opt of state income tax by electing do not withhold, no form necessary. If no election is made, state will be applied at the rate referenced below. se categories are further broken down by the annuity contract s tax qualification. A tax qualified contract is an annuity purchased for retirement in which some contributions are made with pretax dollars, such as a Traditional IRA. A nonqualified contract is an annuity in which contributions are made with posttax dollars..
tax guidelines for nannuitized Payments (i.e.life expectancy payments, systematic withdrawals, partial withdrawals, surrenders, etc.) nqualified (N) Tax percentage Alabama AL Q & N Voluntary 5.% Alaska AK Q & N Arizona AZ Q & N Voluntary 2.7% Arkansas AR Q & N 7.% California CA N 9.% California CA Q 1.% (of federal tax withheld) * Colorado CO Q & N Voluntary 4.6% Connecticut CT Q & N Voluntary 5.% Delaware DE Q & N 5.95% District of Columbia DC Q & N Mandatory 8.95% Florida FL Q & N Georgia GA Q & N Voluntary 6.% Hawaii HI Q & N Idaho ID Q & N Voluntary 7.8% Illinois IL Q & N Voluntary.% Indiana IN Q & N Voluntary.4% Iowa IA N Mandatory 8.98% Iowa IA Q Mandatory 5.% Kansas KS Q & N Mandatory 6.45% Kentucky KY Q & N Voluntary 6.% Louisiana LA Q & N Voluntary 4.8% Maine ME Q & N Mandatory 5.% * Maryland MD Q & N Voluntary 7.5% Massachusetts MA Q & N Mandatory 5.15 Michigan MI Q & N Mandatory 4.25% * Minnesota MN Q & N Voluntary 7.85% Mississippi MS Q & N Missouri MO Q & N Voluntary 6.% Montana MT Q & N Voluntary 6.6% Nebraska NE Q & N Mandatory 6.95% Nevada NV Q & N
nqualified (N) percentage Tax New Hampshire NH Q & N New Jersey NJ Q & N Voluntary 7.% New Mexico NM Q & N Voluntary 4.9% New York NY Q & N Voluntary 8.14% rth Carolina NC Q & N 4.%* rth Dakota ND Q & N Voluntary 5.54% Ohio OH Q & N Voluntary 6.72% Oklahoma OK Q & N 5.5% Oregon OR Q & N 9.% Pennsylvania PA Q & N Voluntary.7% Rhode Island RI Q & N Voluntary 9.9% Sh Carolina SC Q & N Voluntary 7.% Sh Dakota SD Q & N Tennessee TN Q & N Texas TX Q & N Utah UT Q & N Voluntary 5.% Vermont VT N Mandatory 9.5% Vermont VT Q Mandatory 27.% (of federal tax withheld)* Virginia VA Q & N 5.75% Washington WA Q & N West Virginia WV Q & N Voluntary 6.5% Wisconsin WI Q & N Voluntary 7.8% Wyoming WY Q & N *CA/VT (Q) Default percentage is a percentage of the federal income tax amount withheld instead of the total taxable amount of the withdrawal. * Contract owners residing in Michigan (MI) can opt of SIT by submitting a MIW4P form * Contract owners residing in Maine (ME) can opt of SIT by submitting a W4E form * Contract owners residing in rth Carolina (NC)can opt or choose SIT by submitting NC4P See below for annuitized payment streams
tax guidelines for Annuity Pays (Wage ) nqualified (N) Tax Alabama AL Q & N Voluntary Alaska AK Q & N Arizona AZ Q & N Voluntary Arkansas AR Q & N California CA Q & N Colorado CO Q & N Voluntary Connecticut CT Q & N Voluntary Delaware DE Q & N District of Columbia DC Q & N Voluntary Florida FL Q & N Georgia GA Q & N Hawaii HI Q & N Idaho ID Q & N Voluntary Illinois IL Q & N Voluntary Indiana IN Q & N Voluntary Iowa IA Q & N Mandatory Kansas KS Q & N Mandatory Kentucky KY Q & N Voluntary Louisiana LA Q & N Voluntary Maine ME Q & N Mandatory Maryland MD Q & N Voluntary Massachusetts MA Q & N Mandatory Michigan MI Q & N Mandatory Minnesota MN Q & N Voluntary Mississippi MS Q & N Missouri MO Q & N Voluntary Montana MT Q & N Voluntary (annuity pays) 5.% 4.6% 5.% Single with 5.% 4.5% Single with * 5.2% 4.25%* Nebraska NE Q & N Mandatory Nevada NV Q & N
nqualified (N) Tax New Hampshire NH Q & N New Jersey NJ Q & N Voluntary New Mexico NM Q & N Voluntary New York NY Q & N Voluntary rth Carolina NC Q & N rth Dakota ND Q & N Voluntary Ohio OH Q & N Voluntary Oklahoma OK Q & N Oregon OR Q & N Pennsylvania PA Q & N Voluntary Rhode Island RI Q & N Voluntary Sh Carolina SC Q & N Voluntary Sh Dakota SD Q & N Tennessee TN Q & N Texas TX Q & N Utah UT Q & N Voluntary Vermont VT Q & N Mandatory Virginia VA Q & N Mandatory Washington WA Q & N (annuity pays) *.7% West Virginia WV Q & N Voluntary Wisconsin WI Q & N Voluntary Wyoming WY Q & N * Contract owners residing in Michigan (MI) can opt of SIT by submitting a MIW4P form * Contract owners residing in Maine (ME) can opt of SIT by submitting a W4E form * Contract owners residing in rth Carolina (NC) can opt or choose SIT by submitting NC4P Other variations to the state income tax guidelines may apply based on nuances in the state rules and requirements, including but not limited to: payments that are eligible rollover distributions (ERDs), age or distribution amounts. Company cannot provide tax or legal advice. Please consult with your personal tax advisor for specific questions regarding your personal tax situation, or refer to your state s department of revenue website for more information.