Bill
Bill > S0012
summary
Introduced
01/12/2021
01/12/2021
In Committee
01/12/2021
01/12/2021
Crossed Over
Passed
Dead
05/12/2022
05/12/2022
Introduced Session
2021-2022 Session
Bill Summary
This bill proposes to exempt U.S. military retirement pay from Vermont personal income tax. The exemption would be phased in over two years, so that in taxable year 2021, half of federally taxable military retirement pay would be exempted. Starting in taxable year 2022, all taxable military retirement pay would be exempted from Vermont personal income tax.
AI Summary
This bill proposes to exempt U.S. military retirement pay from Vermont personal income tax. The exemption would be phased in over two years, so that in taxable year 2021, half of federally taxable military retirement pay would be exempted. Starting in taxable year 2022, all taxable military retirement pay would be exempted from Vermont personal income tax. The purpose of this exemption is to recognize the U.S. military service of Vermonters who derive part of their income in the form of military retirement pay.
Committee Categories
Budget and Finance
Sponsors (7)
Joseph Benning (R)*,
Randy Brock (R),
Brian Collamore (R),
Russ Ingalls (R),
Dick Mazza (D),
Corey Parent (R),
Joshua Terenzini (R),
Last Action
Senate Committee on Finance Hearing (00:00 1/27/2021 ) (on 01/27/2021)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.vermont.gov/bill/status/2022/S.12 |
| BillText | https://legislature.vermont.gov/Documents/2022/Docs/BILLS/S-0012/S-0012%20As%20Introduced.pdf |
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