Oklahoma military members may soon get a significant income tax break thanks to state Rep. Fred Jordan.
House Bill 2706, by Rep. Fred Jordan, increases the income tax deduction for military income from $1,500 to $5,000 for all active, reserve, and National Guard service members.
"These men and women's job is to serve and protect us
all," said Jordan, R-Jenks. "This bill is a small part of
the great thanks we want to show these brave men and
women for their selfless service during difficult times.
They are great Americans that all Oklahomans can be
proud to support."
Jordan, who served as a Captain in the Marine Corps,
filed legislation last year that exempted all military
income from the Oklahoma state income tax. The bill
passed the House but was held up in the Senate.
"This is a step to take us in the direction of a full tax
deduction for military pay," said Jordan. "Taking one
step at a time will not burden the state and allow us to
ease into a full repeal while still giving a helping hand
to our military."
With the $5,000 exemption, Jordan said 60 percent
of National Guard members and reservists will be
exempt from all state income tax.
HB 2706 passed out of the House Sub-Committee on
Tax and Revenue today.
No comments:
Post a Comment