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IN HB1057
Bill
Status
1/6/2015
Primary Sponsor
Christopher Judy
Click for details
AI Summary
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Expands Indiana's state income tax deduction to include 100% of all military service income received by individuals or their surviving spouses, including retirement and survivor's benefits.
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Removes the previous minimum age requirement of 60 years old for deducting retirement or survivor's benefits from military service.
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Defines "military service income" to include all income from service in active or reserve components of the U.S. Armed Forces, Indiana National Guard, or merchant marine.
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Prevents double deduction by excluding income already subtracted under IC 6-3-1-3.5(a)(21) from the adjusted gross income deduction.
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Effective for taxable years beginning after December 31, 2015.
Legislative Description
Military income tax exemption. Provides a 100% state income tax deduction for all military service income received by an individual or the individual's surviving spouse. Removes the minimum age requirement for an individual to deduct income received as retirement or survivor's benefits for military service.
Last Action
Representatives Lucas and Ober added as coauthors
1/14/2015