Guess Who’s One of Only Six States To Fully Tax Military Pensions
With one of its members now on military duty and another about to return to Iraq, [the Ohio House] suddenly fast-tracked a proposal – just in time for Veteran’s Day – affecting nearly 39,000 military retirees that has languished in the chamber for months.…but I don’t think the Blade story has it quite right.
Ohio is one of just five states imposing income taxes on pensions earned from military service. The bill now heads to the Senate….
Only Ohio, California, Vermont, Rhode Island, and Nebraska still tax at least some portion of military pensions.
According to the National Conference of State Legislatures, Rhode Island is one of six states (the five listed above, plus Minnesota) allowing no exemption at all for income received in the form of a military pension. There are 12 states that fully exempt military pensions from their income taxes, another 21 that exempt at least some portion of military pensions, 2 that have some form of general income exemption for retirees, and 9 states that have no income tax to be exempted from.
In some way, shape or form, Rhode Island should get with the 33 states exempting at least some portion of military pensions from the state income tax. It would be the very least we could do as a community to help take care of the soldiers and sailors who’ve volunteered to help protect our country.