"...An Orange County lawmaker announced Wednesday that he has re-introduced a bill to exempt military retirement pay from state income tax collection, citing a study by the San Diego Military Advisory Council showing that California’s military retiree population is decreasing.
“We want Pendleton Marines, San Diego sailors, Fort Irwin soldiers and Edwards airmen to stay in California when they retire from their service,” said Assemblyman Bill Brough, R-San Juan Capistrano. “Our tax laws steer veterans to other states. California is missing out on highly skilled leaders that can have second careers in our communities.”..."
Showing posts with label State Income taxes. Show all posts
Showing posts with label State Income taxes. Show all posts
Feb 15, 2019
Re-introduction of Tax Exemption Bill for Retired Military in California
Feb 11, 2019
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..."
Jan 23, 2019
Which States Tax Military Retirement Pay?
"...2019 list of all 50 states that exempt (or don’t) all or a portion of military retirement pay. The laws differ depending on which of the 50 states you live in and some state tax laws are more complex than others. Depending on the state you may pay no income tax whatsoever, or you may find your military retirement pay is exempt from taxation up to a certain dollar amount.
Quick math: 9 states don’t have a personal income tax, 8 states fully tax military retirement pay, 20 states don’t tax retirement pay and 13 tax a portion...."
Oct 20, 2017
West Virginia Votes to Exempt Retirement Pay from State Income Tax
"...Both chambers passed a bill Tuesday that exempts military retirement from personal income tax.
Lawmakers passed House Bill 201 in its Tuesday's floor session. After a lengthy debate in the House of Delegates, the House overwhelmingly voted to pass the bill...."
Mar 21, 2017
GA Lawmaker Proposes Military Retirement Tax Exemption
"...A Warner Robins state representative says it’s time for Georgia to exempt military retirement income from state income taxes.
State Rep. Heath Clark said the tax treatment would make Georgia attractive for skilled, dedicated men and women who retire from the military as young as 38 years old and looking for a second-act civilian career.
“If they stick around or we can bring other people from other bases in ... the mission capabilities that are at our defense installations, you could increase those because you have the workforce in place to increase the workload,” said Clark, a Republican..."
Mar 13, 2017
Bill Proposed to Exempt Military Retirement from West Virginia Taxes
"...Gov. Jim Justice is asking the Legislature to pass a bill to exempt military retirement from the state's income tax.
Justice announced in a Friday news release he wants to give veterans a 100 percent tax exemption for military retirement, saying he sees it as a way to support the state's veteran population and to attract out-of-state veterans.
Speaking with Talkline's Hoppy Kercheval Friday morning, the governor said, "We need to pro-actively reward our vets. They’ve given us our freedom in every way.”..."
Read more at The Register-Herald
Feb 12, 2017
Military Retirement Exemptions Bill Introduced in Nebraska
"...A bill introduced by Sen. Tom Brewer of Gordon aims to attract military retirees to Nebraska and provide incentive to stay for those service members who retire here.
LB 121, which was heard by the Nebraska Revenue Committee Friday, exempts military retirement benefits from state income taxes..."
Feb 9, 2017
Arkansas Cuts Taxes On Military Retirement Pay
"...Arkansas Gov. Asa Hutchinson has signed a bill giving a tax break to retired military veterans and imposing additional taxes on digital downloads, treats and unemployment benefits.
The $13 million exemption is intended to boost economic development. Its supporters hope veterans retire in Arkansas to begin second careers and say shifting the tax burden to others was necessary to make it happen..."
Mar 23, 2016
Tax Bill to Exempt Military Pay for Utah Retirees Dies
"...A bill that would have provided military retirees with a 100 percent state income tax exemption died after failing to make it through the Utah Legislature's House Rules Committee.
Coalville resident and 88-year-old retired Lieutenant General Hal Hardin, who has been an advocate for the measure, referred to the effort as "a sham and a farce." Hardin traveled to Salt Lake City to voice his support and said he felt as though his testimony was dismissed..."
Read more at The Park Record
Sep 20, 2015
Georgia Legislator Vows to End Tax on Military Retirement Pay
"...Military pensions would be exempt from state income tax under a proposal announced Thursday by a freshman legislator.
Rep. Jesse Petrea, R-Savannah, said he would pay for his plan by boosting the tax on cigarettes 28 cents per pack...
A tax-exemption for vets sponsored in the last session of the General Assembly by the chairman of the House Veterans Affairs Committee stalled because of the projected drain on the state treasury.
“I knew I had to find a way to pay for it,” said Petrea"
Read more at onlineathens.com
Feb 21, 2015
Proposal to Eliminate State Income Tax on Military Retirement Pay
"...a new bill was proposed by Connecticut State Senate Democrats that would provide a big tax break for veterans.
The proposal is to eliminate all state income taxes for military retirement pay that is federally taxable. Currently, that income has a 50 percent exemption.
“We need to be moving toward exempting more retirement and pension benefits in order to keep more people in this state, and one of the first places to start is with people who have served our country,” said state Sen. Mae Flexer (D-Killingly)..."
Sep 27, 2014
Retirees Beware State Tax Bite
Two states offer no general breaks on retirement income but do offer a break to military retirees."
Sep 3, 2014
Arkansas Candidate Proposes Income Tax Exemption for Veterans
"...Democratic candidate for governor Mike Ross on Monday outlined a package of proposals to aid Arkansas veterans, including an income-tax exemption for military retirement pay...
Speaking during a news conference at his campaign headquarters in Little Rock with a group of supporters known as Veterans for Ross, the former 4th District congressman said Arkansas is ranked 48th in the nation in attracting working-age military retirees. Becoming a more attractive place for veterans to retire would be an economic boon for the state, he said.
“We could have veterans, military retirees, moving to Arkansas and bringing with them a substantial paycheck in terms of military retirement..."
Jan 27, 2014
Iowa Senate Passes Military Retirement Pay Exemption
"...Military retirement pay would be exempt from Iowa income taxes under a bill approved by the Iowa Senate on Monday. The vote was 46-0, and the measure now goes to the Iowa House.
Senate File 303 is part of an initiative by Gov. Terry Branstad aimed at attracting newly discharged military veterans to Iowa. Branstad’s program, called Home Base Iowa..."
Read more at the Des Moines Register Staff Blogs
Feb 28, 2013
Montana Mulls Tax Exemption on Military Pension
"...Montana lawmakers are considering a bill that would allow state income tax exemptions for military pensions and military survivor benefits.
House Bill 49 was reviewed by the House Appropriations Committee on Monday after being endorsed by the full House on Feb. 5 in an initial 57-43 vote...."
Feb 15, 2012
New Mexico approves tax exemption for military retirement pay
"...The House has approved a proposal to remove New Mexico's income tax from military retirement payments.
Supporters say the tax incentive will encourage military retirees to live in New Mexico..."
Read more at therepublic.com
Supporters say the tax incentive will encourage military retirees to live in New Mexico..."
Read more at therepublic.com
Dec 29, 2011
State Income Tax Guide
"...Different states have different rules for taxing military pay and military retired pay. Here is a state-by-state list of current state laws and requirements for the taxation of military pay and military retired pay..."
Read more at usmilitary.about.com
Read more at usmilitary.about.com
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