Gov. Moore highlights tax break proposal for military retirees

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ANNAPOLIS, Md. (AP) — Maryland Gov. Wes Moore wants to expand state tax relief for military retirees.

The governor highlighted the “Keep Our Heroes Home Act” in his legislative agenda during a roundtable with veterans on Thursday. It calls for expanding the military tax exemption to $25,000 of income in tax year 2023 and $40,000 in tax year 2024. Now, the state allows any individual receiving military retirement, including surviving spouses, to deduct the first $5,000 from their taxable income if they are under 55 and $15,000 if they are 55 or older.

The governor’s proposal expands the amount and eliminates the age distinction.

Source: AP – All contents copyright 2023 Associated Press.  All rights reserved.


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