Indiana Veterans, Spouses Get Tax Break On Retirement Pay

Military retirement and survivor benefit income are now fully exempt from Indiana's income tax.

Indiana Governor Eric Holcomb was joined by military veterans as he signed House Enrolled Act 1010 at the Indiana State Fair on Monday, August 5. Public domain photo.

(Indianapolis, Ind.) - Veterans in Indiana don't have to worry about income taxes on their pensions or other military benefits. 

Governor Eric Holcomb ceremonially signed a new law Monday at the Indiana State Fair.

It gives former service members a tax break. House Enrolled Act 1010 allows a 100 percent income tax deduction on military retirement or survivor's benefits beginning this year. The exemption also applies to military spouses. 

RELATED: LEGION Act Could Help Boost Post Numbers

Lawmakers approved the law with the hope that the tax break will keep more veterans in Indiana after they stop working. 

The tax exemption will reduce the State of Indiana’s income tax revenue by about $15 million per year, according to a fiscal analysis of the law by the non-partisan Legislative Services Agency.

RELATED STORIES:

Local Vietnam Veteran Honored As Reds' Hometown Hero

More from Local News


Events

Intersection Improvement Work Planned in Greendale

Work at the intersection of U.S. 50, State Road 1 (Belleview Drive), and the I-275 on-ramp.

Skyline Chili Named #1 Regional Fast Food Restaurant

Whenever you are feeling good and hungry...

Indiana Unemployment Rate Improves in June

The state's jobless rate remains lower than the national rate.

Cincinnati Man Takes First Place at Trojan Trot 5K

The second of six SIRC races was held on Saturday in St. Leon.

DCF's 24th Annual Golf Scramble Fundraiser Set for August 4

The round will be played at Hidden Valley Golf Club.

Versailles Native Wins Lions Pride 5K

The next Southeastern Indiana Racing Circuit event is July 12 in St. Leon.

On Air

Alison Wiegand playing
Lady A - Hello World

Jeremy Camp I Still Believe - PEC ONLY 7:06
Emerson Drive Moments 7:01
Fox News Fox News National Newscast 7:00
Brantley Gilbert Heaven by Then f/ Blake Shelton & Vince Gill 6:57