Madison, IN Sunny intervals 14°
Listen Live

Governor Signs Tax Break For Veterans

Gov. Holcomb Facebook photo

Military retirement and survivor benefit income are now fully exempt

 Veterans in Indiana don't have to worry about income taxes on their pensions or other military benefits. 

Governor Eric Holcomb ceremonially signed a new law Monday at the Indiana State Fair.

It gives former service members a tax break. House Enrolled Act 1010 allows a 100 percent income tax deduction on military retirement or survivor's benefits beginning this year. The exemption also applies to military spouses. 

Lawmakers approved the law with the hope that the tax break will keep more veterans in Indiana after they stop working. 

The tax exemption will reduce the State of Indiana’s income tax revenue by about $15 million per year, according to a fiscal analysis of the law by the non-partisan Legislative Services Agency.

More from Local News

Events

  • Youth LGBTQ+ & Allies

    Make new friends, enjoy activities and discussions in a safe and affirming space For teens 13+ Every 2nd and 4th Thursday 506 Mulberry St, Madison Annex building behind Christ Episcopal Church 6:30-8PM

    at Annex Building
  • Teen Volunteer Program

    Madison Public Library Teens help with various projects and earn community service hours! You must complete the Volunteer Application and background check to attend. New applications are always being accepted. Registration required. Go to www.mjcpl.org and click on "events" to register or call the library at 812-265-2744

    at Madison Public Library
  • Pizza Hut of Hanover Incentive Program

    For the next 7 Thursdays (starting 9/19, ending 10/31), the Southwestern Incentive Committee will be performing a fundraiser in conjunction with Hanover Pizza Hut to raise money for activities to increase student attendance, grades, and eliminate discipline. The fundraiser will last all day Pizza Hut is open. Please help the Incentive Program by purchasing food from Pizza Hut in Hanover on these days. Pizza Hut will donate 20% of purchases to the Incentive Program.

    at Pizza Hut of Hanover