15
15
0
Here's how the legislation shapes up:
New Mexico: Beginning in 2022, up to $10,000 of military retirement is tax free. That amount increases to $20,000 in 2023, and to $30,000 until at least 2026, according to a governor’s press release.
Oklahoma: Military retirement income is fully tax free beginning in 2022, according to a state Senate press release.
Rhode Island: Military retirement income is fully tax free beginning in 2022, according to a governor’s press release.
South Carolina: Military retirement income is fully tax free beginning in 2022, according to a state government press release.
Vermont: Beginning in 2022, up to $10,000 in retirement income is tax free for those with a gross income less than $50,000 for single filers or $65,000 for joint filers, according to a state legislature press release.
Virginia: In 2022, up to $10,000 in retirement pay is tax free for retirees 55 and older. That amount increases by $10,000 each year until 2025, when up to $40,000 is deductible, according to a state assembly press release.
New Mexico: Beginning in 2022, up to $10,000 of military retirement is tax free. That amount increases to $20,000 in 2023, and to $30,000 until at least 2026, according to a governor’s press release.
Oklahoma: Military retirement income is fully tax free beginning in 2022, according to a state Senate press release.
Rhode Island: Military retirement income is fully tax free beginning in 2022, according to a governor’s press release.
South Carolina: Military retirement income is fully tax free beginning in 2022, according to a state government press release.
Vermont: Beginning in 2022, up to $10,000 in retirement income is tax free for those with a gross income less than $50,000 for single filers or $65,000 for joint filers, according to a state legislature press release.
Virginia: In 2022, up to $10,000 in retirement pay is tax free for retirees 55 and older. That amount increases by $10,000 each year until 2025, when up to $40,000 is deductible, according to a state assembly press release.
6 More States Stop Taxing Military Retirement
Posted from military.com
Edited >1 y ago
Posted >1 y ago
Responses: 6
Lt Col Charlie Brown
>1 y
Many states don't. I am glad Virginia has finally at least gotten on the bandwagon to some degree
(3)
Reply
(0)
Posted >1 y ago
Massachusetts is a state that doesn't tax Military Retirement pay, too bad the Federal Government does.
(5)
Comment
(0)
Maj Robert Thornton
>1 y
Agreed SMSgt Lawrence McCarter. The US government should stop taxing Military retired pay and social security.
(4)
Reply
(0)
SPC Gary C.
>1 y
Maj Robert Thornton - They should take social security out of the general fund again, and pay back everything that was taken out of it.
(2)
Reply
(0)
Read This Next