HB 941 -- Income Tax on Pensions

Co-Sponsors:  Summers, Klindt

This bill exempts any military retirement pay received by a
taxpayer from state income tax if the retirement pay is included
in federal adjusted gross income.

The bill also increases the maximum amount allowed as a pension
deduction, currently set at $6,000, by $500 per year and
increases the maximum income levels, currently set at $25,000
for single taxpayers and $32,000 for married taxpayers, by
$1,200 per year.