SB201 – Increasing the Military Pension Income Exemption
Delaware Dem posted: " Republican Senator Eric Buckson and Democratic Represenator Sherry Dorsey Walker are sponsoring Senate Bill 201, a bill that will increase the tax exemption for military pensions from $12,500 to $25,000 over a three year phase in period. will Senator E" Blue DelawareRead on blog or Reader
Republican Senator Eric Buckson and Democratic Represenator Sherry Dorsey Walker are sponsoring Senate Bill 201, a bill that will increase the tax exemption for military pensions from $12,500 to $25,000 over a three year phase in period. will Senator EricState lawmakers file bipartisan legislation to increase the state income tax exclusion for military pensioners over a three year period.
Of the 41 states with a state income tax, 27 states fully exempt military pensions from state income tax, and 12 states partially exempt it.
Senator Eric Buckson: "I didn't think I could convince the General Assembly to exempt it all, so we started with this tiered approach that competes with other states like Virginia and Maryland who've just done this. The reason that I have done it, hopefully, is to incentivize and encourage people with a very unique skill set – and that would be our military retirees – to want to stay here in Delaware when they get done with their service, or relocate to Delaware."
SB201 - Excluding Military Pension from Taxable Income
Currrent Status - Senate Executive 1/4/24
House Sponsors - Dorsey Walker // Hilovsky, Gray, Morris, Shupe, Smith
Senate Sponsors - Buckson, Mantzavinos, Hocker, Lawson, Pettyjohn, Wilson
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