Indiana Military Retirement Tax Exemptions Bill Passes House

"...House Bill 1010, which passed the Indiana House of Representatives 95-3 last week, calls for a full income tax exemption for military retirement pensions and a higher assessed property value tax cap for disabled veterans and seniors 65 years of age or older. Cherry, R-Greenfield, said his bill would lessen the financial burden on nearly 30,000 Hoosier veterans and their families.

State Sen. Mike Crider, R-Greenfield, will sponsor the bill as it next enters the Senate for consideration...

The increase to income tax deductions for military retirement pensions and survivor’s benefits would phase in over four years, Cherry said. Currently, veterans can deduct up to $6,250 of their pension from income taxes. The bill would change the maximum tax deduction to a full exemption by 2022. Cherry said Indiana would join 23 other states that don’t tax military retirement pay..."

Read more at Greenfield Reporter