Ira Distribution Request Form Page 5
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5STATE TAX WITHHOLDING INFORMATION SHEET
This general information is provided to help you understand state income tax withholding requirements for Individual Retirement
Account distributions. While Scottrade makes every effort to obtain information about state tax laws from sources believed to be
reliable, Scottrade cannot guarantee the accuracy or timeliness of state tax withholding information because state tax laws are subject
to constant change and interpretation. We recommend that you contact your tax advisor regarding your tax withholding elections and
answer any questions that you may have regarding your state’s withholding laws.
Scottrade is required to withhold state tax from your distribution based upon state tax law for your state of residency.
Your state of residency is determined by the state in which you legally reside at the time of distribution.
STATE OF RESIDENCY
WITHHOLDING OPTIONS
State tax must be withheld if you elect to have federal tax withheld.
KS, MA, ME, NE, VT
If you elect not to have federal tax withheld, you may optionally elect to have state tax withheld
MS
State withholding is only allowed on premature and excess distributions. State tax must be withheld unless you opt out.
If you elect to have federal tax withheld, Scottrade is required to withhold state tax unless you specifically elect not to have state
CA, IA, NC, OK
tax withheld.
AR, GA, MT
State tax must be withheld unless you opt out.
State withholding is voluntary regardless of whether or not you elect to have federal tax withheld.
DE
State tax must be withheld where federal withholding is required for payments made outside the U.S.
AK, AZ, FL, HI, ND, NH,
State tax withholding is not available. Scottrade will not withhold state tax even if you elect to do so.
NV, SD, TN, TX, WA, WY
All other states
State withholding is voluntary regardless of whether or not you elect to have federal taxes withheld.
You may provide a percentage or dollar amount equal to or greater than your state’s minimum withholding
requirement; otherwise Scottrade will automatically apply your state’s applicable minimum withholding requirement.
STATE OF RESIDENCY
MINIMUM WITHHOLDING REQUIREMENT
No minimum tax rate provided. You must provide a percentage or dollar amount.
CO, MS, OH, UT, WV
MD, NY, WI
No minimum tax rate provided. You must provide a percentage or dollar amount not less than $5.
CT, IN, MT, NJ
No minimum tax rate provided. You must provide a percentage or dollar amount not less than $10.
Minimum percentage is 4.9% and not less than $10.
NM
MO
Minimum percentage is 6% and not less than $10.
CA
Minimum percentage is 10% of the federal withholding amount and greater than $10.
AR
Minimum percentage is 3%.
PA
Minimum percentage is 3.07%.
IL
Minimum percentage is 3.75%.
NC, VA
Minimum percentage is 4%.
Minimum percentage is 4.25%.
MI
KS
Minimum percentage is 4.5%.
Minimum percentage is 5%.
AL, DE, IA, ME, NE, OK
MA
Minimum percentage is 5.15%.
RI
Minimum percentage is 5.99%.
GA, KY
Minimum percentage is 6%.
MN
Minimum percentage is 6.25%.
SC
Minimum percentage is 7%.
ID
Minimum percentage is 7.4%.
OR
Minimum percentage is 8%. The amount of withholding must be greater than $10.
DC
Minimum percentage is 8.95%.
VT
Minimum percentage is 24% of federal withholding amount.
LA
State tax withholding is calculated using the wage formula on Louisiana Department of Revenue form R-1306.
AK, AZ, FL, HI, ND, NH,
State tax withholding is not available. Scottrade will not withhold state tax even if you elect to do so.
NV, SD, TN, TX, WA, WY
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