Income Taxes; all income received as retirement benefits derived from service in the armed forces of the United States or the reserve components; exempt from taxation

A BILL to be entitled an Act to amend Chapter 7 of Title 48 of the Official Code of Georgia Annotated, relating to income taxes, so as to exempt from taxation all income received as retirement benefits derived from service in the armed forces of the United States or the reserve components thereof; to provide for related matters; to provide for an effective date and applicability; to repeal conflicting laws; and for other purposes.

Source: OpenStates · fetched March 6, 2025

• Veteran / service memberdirectMajor impactHigh certainty

  Exempts retirement benefits derived from service in the armed forces from income taxation.

  “to exempt from taxation all income received as retirement benefits derived from service in the armed forces of the United States or the reserve components thereof”· Title

Fiscal impact: Moderate (The fiscal impact is estimated as moderate due to the reduction in state income tax revenue from exempting retirement benefits for veterans. The exact amount would depend on the number of veterans receiving such benefits and their income levels.)