Montana Governor Signs Law Concerning Income Tax Exemption Regarding Retired Military Pensions, Survivor Benefits

The Montana Governor May 19 signed a law revising state income taxation of military pensions, retirement income, and survivor benefits. The law includes measures: 1) exempting a portion of military pensions, retirement income, and survivor benefits from income taxation; 2) providing the exemption to retired members of the armed forces, a reserve component, or the national guard who become a resident of the state or remain a resident after receiving certain retirement benefits; 3) specifying that this law applies to military retirement income, pension income, or survivor benefits received after Dec. 31; and 4) stating that this law terminates Dec. ...