Maryland Military Retirement Income Exclusion Increases

Subject: Maryland military retirement income exclusion goes from 5,000 to 10,000 for those over 65

Senate Bill 592-This bill increases the existing subtraction modification on certain military retirement for individuals who are at least 65 years old. ( This means me since I am 65 this August) The maximum amount of retirement that an be excluded from Maryland adjusted gross income for purposes of calculating MD income tax is increased from $5,000 to $10,000.

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