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IN SB0354

Bill

Official Source

Status

Introduced

1/8/2013

Primary Sponsor

Michael Delph

Click for details

Origin

Senate

2013 Regular Session

AI Summary

  • Provides a 100% Indiana income tax deduction for all military service income received by service members or their surviving spouses, replacing the previous $5,000 cap
  • Military service income includes pay and retirement/survivor's benefits from the army, navy, air force, coast guard, marine corps, merchant marine, Indiana army national guard, and Indiana air national guard
  • Removes the requirement that individuals must be at least 60 years old to deduct military pension benefits
  • Effective January 1, 2014, applying to taxable years beginning after December 31, 2013
  • Prevents double-deduction by excluding qualified military income already subtracted under a separate provision (IC 6-3-1-3.5(a)(21))

Legislative Description

Tax exemption for military income.

Last Action

First reading: referred to Committee on Tax and Fiscal Policy

1/8/2013

Committee Referrals

Tax and Fiscal Policy1/8/2013

Full Bill Text

No bill text available