Senate Bill 188
151st General Assembly (Present)
Adopted in Lieu of original; takes status of original
AN ACT TO AMEND TITLE 30 OF THE DELAWARE CODE RELATING TO EXCLUSION OF MILITARY PENSIONS FROM TAXABLE INCOME.
Of the 41 states with a state income tax, 21 states fully exempt military retirement pay from state income taxes and 16 states partially exempt military retirement pay. Currently, Delaware exempts $2,000 of pensions for those under 60 and $12,500 of eligible retirement income, which includes pensions, for those 60 or older. In addition to the current exemptions, this Act phases in, over 4 years, an additional exemption for military pensions from state income taxation, regardless of age.
Takes effect upon being signed into law