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Senate committee advances SB 1 to exempt up to $20,000 of military retirement pay from state income tax
Summary
The California Senate committee advanced SB 1, a bill to exempt up to $20,000 of military retirement and survivor benefits from state income tax for taxpayers under specified adjusted gross income (AGI) limits; supporters said the change aims to retain veterans amid competition from other states.
Senator Sciarto introduced SB 1 on behalf of veterans and military families, saying the measure would exclude up to $20,000 of military retirement pay and survivor benefit payments from California state income taxation for taxpayers whose adjusted gross income is under specified thresholds. "SB 1 exempts the first 20000 dollars from military retirement and survivor benefit pay and can only be applied to families with an adjusted gross income under 250,000 or an individual's AGI under 125,000," Senator Sciarto said.
The committee heard testimony from David Boone, a retired…
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