INDIANAPOLIS (WTHR) - Indiana veterans will soon no longer have to pay state taxes on their military retirement income.
Governor Eric Holcomb signed House Bill 1010 into law Monday.
It exempts Indiana veterans and their spouses from paying income tax on their veteran benefits. It is hoped the exemption will keep more veterans in Indiana and lure them here from other states.
According to the non-partisan Legislative Services Agency the exemption will reduce state revenue by about $15 million a year.