Effective January 1, 2024, military retirees regardless of age will receive extended tax exemptions for military retirement pay in Virginia.
Military retirement pay was previously subjected to age restrictions that were removed in the 2023 Virginia state budget.
In 2022, Gov. Glenn Youngkin signed into law a bipartisan state tax exemption for military retirement pay.
“With the support of the members of the Virginia General Assembly from both sides of the aisle, I was pleased to provide additional tax relief to our vast number of military retirees that call Virginia home. Reducing the tax burden on military retirees was a promise we made early on, and we were able to deliver. After commendable years of service and sacrifice, our Virginia veterans deserve the best treatment,” Youngkin said. “As governor, I’m working to make Virginia the No. 1 state in America for veterans and military retirees to live, work and raise a family.”
According to Virginia Secretary of Veterans and Defense Affairs Craig Crenshaw, the Commonwealth’s veterans “play a vital role in our civilian workforce when they transition from active duty. They are truly community force multipliers, and we work hard every day to assure they know that the Commonwealth appreciates their contributions. This retirement pay tax exemption is not only the fair thing to do but the right thing to do.”
Virginia Department of Veterans Services Commissioner Daniel Gade said he knows the legislation will serve to better military retirees’ and their families’ lives.
“These tax exemptions are one more reason that the thousands of active-duty service members who retire each year will look to making Virginia their permanent home,” he said.
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Rebecca Barnabi
