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Indiana law stops taxing of military retirement income

Indiana veterans will soon no longer have to pay state taxes on their military retirement income.

Governor Eric Holcomb signed House Bill 1010 into law. It phases in a full military income tax exemption for military retirement pensions and survivors benefits over a four year period.

State Representative Bob Cherry of Greenfield.

Indiana joins 23 other states that do not tax military retirement pay.

According to the non-partisan Legislative Services Agency the exemption will reduce state revenue by about $15 million a year.

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