Veterans in Georgia to benefit from new income tax bill
HINESVILLE, Ga. (WTOC) - Governor Brian Kemp signed a bill into law earlier this week that changes how veterans pay income tax. House Bill 1064 exempts state income tax from some veterans.
Soon, veterans across the state of Georgia and in communities like Hinesville will benefit from an income tax exemption.
Democratic Midway Representative Al Williams said, “it’s monumental for a place like Liberty County, where we have such a high veteran population, probably one of the highest in the state if not the highest percentage-wise.”
The new law can exempt income tax on up to $35,000 of military retirement income for veterans under 62 years old.
Up to $17,500 of military retirement benefits will be exempt from state income tax. Veterans can be eligible for an exemption on an additional $17,500 of their military retirement benefits if they make at least that much from working a job in Georgia.
“I think it’s a good thing, that this has finally been a law here in Georgia. I think the retired veterans deserve it,” said veteran PJ Schneider.
PJ Schneider spent roughly 24 years in the armed forces, and says while this bill is a step in the right direction, he has some reservations.
“I would like to have seen it been that your full military retirement is tax exempt.”
Rep. Al Williams, who voted in favor of the bill, says the new law will help keep veterans living in the state.
“We have a lot of expertise that retire here, and we want to keep them. Georgia is a rapidly growing state, and we want to keep as much brain power as possible.”
Georgia is home to nearly 700,000 former servicemembers and 101,000 military retirees.
Rep. Williams says the tax exemption will take place starting July 1st.
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