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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
Taxes
Money
Retirement
Edited 2 y ago
Posted 2 y ago
Responses: 6
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Lt Col Charlie Brown
Many states don't. I am glad Virginia has finally at least gotten on the bandwagon to some degree
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Massachusetts is a state that doesn't tax Military Retirement pay, too bad the Federal Government does.
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Maj Robert Thornton
Agreed SMSgt Lawrence McCarter. The US government should stop taxing Military retired pay and social security.
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SPC Gary C.
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)
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