Military Retirement Exemption for Working Military Retirees Beginning in Tax Year 2024 – Tax News You Can Use

December 13, 2023

Beginning with Tax Year 2024, Montana resident military retirees working in the state may be eligible for an exemption of part of their military retirement income.

The exemption is available to working military retirees who become Montana residents after June 30, 2023, or who began receiving military retirement income after becoming a Montana resident. The exemption is equal to the lesser of half of the taxpayer’s military retirement income or the amount of Montana source wage income.

The exemption is only available for five consecutive years after becoming a resident. Learn more here: