DELAWARE - Senator Eric Buckson (R-Dover) unveiled Senate Bill 201 (SB 201) on Thursday, Jan. 4, 2024, alongside bipartisan sponsorship. The proposed legislation aims to incrementally raise the state income tax pension exclusion for military pensioners across a three-year span.
If ratified and signed into law, the exemption for military pensions from state income tax for military pensioners of all ages would be $25,000 in taxable years on or after Jan. 1, 2026.
At this time, approximately 12 states implement partial exemptions for military retirement pay from state income taxes.
Senator Eric Buckson, a member of the Senate Veterans Affairs Committee, represents the 16th Senate District.