ST. PAUL, MN—For the first time, all military pensions are fully exempt from Minnesota state income taxes beginning with 2016 tax filings that are due this year. According to the Minnesota Department of Revenue, 900,000 Minnesotans are expected to file their taxes in the final week before the April 18 filing deadline. This new tax benefit is a result of bipartisan legislation passed in 2016 by the legislature and signed into law by Governor Dayton.
"Our veterans and their families have sacrificed much for our country," said Rep. Peggy Bennett, R-Albert Lea. "Giving them tax relief on their well-earned pension income is a way to say thank you for all they've done for us. I was proud to vote for this legislation last year, and hope Minnesota veterans will take advantage of this tax exemption as they’re filing their taxes."
Minnesota veterans with questions about the new tax exemption are encouraged to visit the Department of Revenue website for more information.
Additional information can be found here: http://www.revenue.state.mn.us/individuals/individ_income/Pages/Military_Pensions.aspx
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