Tax Law (Questions About Taxes)/Ga tax and 401K


My job is being terminated in September and I will be withdrawing my 401 K in the state of FL. We just had a house built in Georgia but will not be moving there until January. Will I have to claim my 401K earnings from 2013 and pay Georgia taxes next year since we will not be residents until 2014? Thank You


Thanks for your question.

The 401(k) will be taxed in your state of residence at the time of withdrawal.

As you probably know, Florida has no personal income tax.  In Georgia, you can exclude up to $35,000 of retirement income from state tax if you are age 62 or over. If you are 65 or older, the maximum exemption is $65,000.  These numbers are per person.

Hope this helps.

John Stancil, CPA

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John Stancil, CPA


I can answer questions on personal income taxes, partnerships, and some corporate income taxes. I can deal with some state tax questions. Limited gift and estate tax questions. I am also familiar with ministerial and church tax reporting issues. I am Professor Emeritus at Florida Southern College. Sales taxes and property taxes are state and local issues so I am not likely be be able to give you an in depth answer on those types of taxes. I have maintained a CPA practice, specializing in tax, for over 35 years. I am a member of the National Association of Tax Professionals, The Florida Insititute of CPA's, The NCPE Fellowship. In addition I am a Certified Mentor for SCORE. Visit my website at I also offer seminars and consultations to churches and clergy on their tax issues at Also visit my blog, I am listed on Tax Connections at Prepare and file your own taxes at


I hold a doctorate in Accounting, and am a CPA. My certifications of CIA, CFM, and CMA are inactive. I passed all certification examinations on the first attempt, and received honorable mention for my scores on the CIA exam. I have operated a CPA firm for over 37 years and have taught accounting and tax at the college level for over 35 years.

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The CPA Journal, Florida CPA Today, Green Consumer, Green Business, Global Sustainability as a Business Imperative, Palmetto Review, NATP TaxPro Quarterly, Mustang Journal of Finance and Accounting.

DBA University of Memphis MBA University of Georgia BS in Accounting Mars Hill University

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