Tuesday, February 08, 2005

Military Retirement Tax Exemption Past Due

It's good to see bipartisan support in the General Assembly for House Bill 245(and the cross-filed Senate Bill 211) that would exempt retirement income of military retirees frorm that state income tax. 21 Senators and 66 Delegates so far have co-sponsored the legislation, as well as having the full support of Governor Ehrlich.

I'm glad to see that there is finally widespread support for this legislation. The bill will help encourage Maryland's veterans to stay in our state without being subjected to our relatively high rates of taxation. Additionally, this is a great benefit for military vetarans who had to choose between a higher income living in other states that currently exempt military retirement income, or having less income but maintaining a close proximity to Baltimore and Washington-area Veteran's hospitals and medical facilities.


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