Residents of nine states will collect less Social Security starting in September – is yours one of them?

This month, Social Security taxes are changing, meaning some people will receive less.

Some states tax Social Security benefits more than others, based on an individual’s or couple’s total income.

Nine states are raising their Social Security taxes in September, reducing the total monthly amount you receive.

Beneficiaries living in Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, Vermont or West Virginia may have to pay more.

The exact impact depends on the state you live in and your total income. A larger Social Security check will likely result in higher taxes owed.

About 40 percent of Social Security recipients must pay income taxes on their benefits, usually because of significant income unrelated to their benefits.

The tax is imposed when you file a federal tax return as an individual, or when you file jointly with your spouse.

About 68 million Americans receive some form of Social Security each month, costing about $1.5 trillion annually.

The highest retirement benefits are as much as $4,873, although this amount is likely lower for most recipients.

According to the Social Security Administration, the average retirement benefit is $1,918 per month.

“The maximum benefit depends on the age at which you retire. For example, if you retire in 2024 at full retirement age, your maximum benefit would be $3,822,” the SSA says on its website.

However, if you retire at age 62 in 2024, your maximum benefit will be $2,710.

“If you retire at age 70 in 2024, your maximum benefit will be $4,873,” the site explains.

Nearly nine out of ten people aged 65 and over receive social security benefits. These benefits typically amount to about 30 percent of their income.

About 68 million Americans receive Social Security, which costs about $1.5 trillion annually

Payments are typically spread out over the month because many people receive a check.

For those who have been claiming Social Security since 1997, or who receive both pension benefits and Supplemental Security Income (SSI), these payments were made last week, on September 3.

People who receive only Supplemental Security Income (SSI) benefits and not a pension should have received their checks by August 30, since the usual payment date falls on the first day of the month on a weekend.

The highest SSI benefit an individual can claim is currently $943 and $1,415 for a couple.

Other beneficiaries should have received their payments this week, depending on their date of birth.

If you were born between the 1st and the 10th of any month, you will receive your monthly check tomorrow, September 11th.

Claimants with a date of birth between the 11th and the 20th of a given month will receive their benefits the following week, on September 18.

The last group, whose birthdays fall between the 21st and 31st of the month, will receive their benefits on September 25.

The SSA recommends waiting three business days after the due date before contacting them about a late payment.

This follows the publication of a new report showing that Social Security is expected to face a funding shortfall by 2035.

Due to the aging population, the costs of the program are increasing, because fewer and fewer people contribute and expenditures exceed revenues.

The last annual report A study by the Social Security Supervisory Board has shown that the program will not be able to pay out full benefits for the next 11 years. That is a year later than previous estimates.