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2022 SESSION

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SB 528 Income tax, state; military benefits subtraction, person 60 years of age or older, etc.

Introduced by: Bryce E. Reeves | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Income tax; military benefits subtraction. Provides an individual income tax subtraction for up to $5,000 of military benefits in taxable year 2022, up to $10,000 in taxable year 2023, up to $15,000 in taxable year 2024, and up to $20,000 in taxable year 2025 and each taxable year thereafter. The subtraction is limited to recipients of such military benefits who are age 60 or older.


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