Direct answer
New York treats annuity distributions as taxable income, although the state offers a specific pension and annuity income exclusion for residents who are 59 ½ or older.
New York State Department of Taxation and Finance guidance on retirement income exclusions. For additional information about retirement income exclusions, see the New York State Department of Taxation and Finance‘s official website.
What this means for you
New York treats annuity distributions as taxable income, although the state offers a specific pension and annuity income exclusion for residents who are 59 ½ or older.
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