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.