FARMERSBURG, Ind. (WTW)/WAWV) — Thanks to a new law supported by local lawmakers, Hoosier military members are set to receive much-need tax relief.
As the law currently stands, service members that are on active duty are eligible for a $5,000 deduction from the state individual income tax. Under a newly signed law by Governor Eric Holcomb, active-duty service members will receive a complete income tax exemption beginning in January regardless of their deployment status.
“Our military members and their families make tremendous sacrifices in the defense of our country,” said State Rep. Bob Heaton (R-Terre Haute), co-author of the new law. “This is just one way we can show our appreciation for their service and help them keep more of their hard-earned money.”
According to State Rep. Alan Morrison (R-Brazil), other states such as Michigan and Kentucky, are offering a full income tax exemption to all service members.
“Our state offers many benefits to our active-duty military and veterans, and this tax relief is just one more reason they should choose to live and work here,” said State Rep. Bruce Borders (R-Jasonville). “Moving forward, I’ll continue to support efforts to welcome more service members here and retain those we have.”
