Income tax on military retirement pay issue in SC

Income tax on military retirement pay issue in SC

COLUMBIA, S.C. (AP) - The chairman of the S.C. Military Base Task Force says a state income tax exemption for military retirement pay will be one of the panel's top priorities when legislators return in January.

Beaufort County attorney William Bethea told The State newspaper that the income tax exemption and in-state tuition for veterans without a one-year waiting period are the top priorities for the task force.

A bill exempting military pay from the income tax passed the House in the last session but came up too late for the Senate to vote on it.

The S.C. Board of Economic Advisors says the tax generates $22 million a year in revenue. Advocates for the bill say a larger retiree base would help the state recapture those dollars.

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