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NC Military Retirement Benefits Now Exempted from State Income Tax

Raleigh, N.C. – Sen. Chuck Edwards (R-Henderson) calls attention to one of the most significant provisions of the recently enacted state budget. Retroactively to January 1 this year retired military personnel residing in North Carolina will now be exempt from paying state income taxes on their military retirement benefits.
With the budget document containing 1,389 pages, it is unlikely that any media outlet will immediately pick up on this monumental action by the NC General Assembly. This release is designed to help get this great news out more quickly.
Sen. Chuck Edwards (R-Henderson) remarked, "It's one thing to talk about how we value our veterans, but it's much better for us to show them our appreciation. Exempting military pensions from state tax is one of the strongest shows of support I think we can display for those who stood to protect our freedoms."
The military pension tax exemption will result in veterans keeping $30 million of the money they earned instead of paying it to the state in taxes. North Carolina has one of the largest military footprints in the country. The state ranks fifth nationally in population share of military personnel.