Tax exemption for uniformed services retirees and surviving spouses will benefit California
REDLANDS, Calif., April 14, 2022 /PRNewswire/ -- Assemblyman James Ramos (D-Highland) joined with servicemembers and veterans on Friday, April 8, in Redlands, Calif., to rally support for his bill, AB 1623, which would provide state tax exemptions for retired members of the uniformed services at age 60, as well as their survivors who receive Department of Defense survivor benefits.
"The California Council of Chapters of the Military Officers Association of America (CALMOAA) is proud to support this bill, and we are fortunate to have Assemblyman Ramos as the author of AB 1623, which has long been our top legislative priority," said CALMOAA President Lt. Cmdr. E. Fred Green, USN (Ret).
The bill awaits a decision from the Assembly Revenue and Taxation Committee before continuing through the legislative process.
"The show of support here today from the local military and veteran community shows that the time has come for California to join the 46 other states that currently have some form of state tax exemption for military retirement pay," said Lt. Cmdr. Jeff Breiten, USN (Ret), CALMOAA's legislative chair.
A 2018 analysis of the issue by the San Diego Military Advisory Council showed California would increase state and local revenue by exempting military pension benefits from state income tax. Retaining and attracting military retirees would increase the state's total income and sales tax receipts. The state is in competition for a highly skilled, mature, and disciplined workforce, and such men and women exist in the retired military community. California is losing this talent and income to other states offering incentives for military retirees to relocate.
The Military Officers Association of America (MOAA) is a nonprofit organization with national headquarters in Alexandria, Va. It is operated exclusively for purposes beneficial to the interests of the nation and its uniformed services personnel, their family members, and survivors. The California Council of Chapters (CALMOAA) is an affiliate of MOAA.
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SOURCE California Council of Chapters, Military Officers Association of America (CALMOAA)