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State tax and TSP

By Mike Miles on November 9, 2015 TSP

Q. I took a partial payment from my TSP recently and 20% was automatically taken for federal taxes. How much do I need to pay for Maryland state taxes?

A. State tax withholding is not mandatory.

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Mike Miles

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.

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About the Author

Mike Miles is a Certified Financial Planner licensee and principal adviser for Variplan LLC, an independent fiduciary in Vienna, Virginia. Email your financial questions to fedexperts@federaltimes.com and view his blog at money.federaltimes.com.
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