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Ways & Means opens extensive debate on amendment to exempt military retirement and survivor benefits from state income tax
Summary
The Ways & Means committee spent much of the session hearing an amendment to H.483 that would exempt U.S. military retirement and military survivor benefit income from Vermont personal income tax.
The Ways & Means committee spent much of the session hearing an amendment to H.483 that would exempt U.S. military retirement and military survivor benefit income from Vermont personal income tax.
Representative Jed Lipsky introduced the amendment, saying it would remove the partial-exemption language in current law so that ‘‘all military retirement income will be exempt’’ and would exclude military retirement and survivor benefits from the definition of taxable income. Lipsky framed the change as recognition of the ‘‘uniqueness’’ of 20-year military service and said the exemption…
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