North Carolina Governor Signs Law Expanding Military Retirement Pay Income Tax Exclusion, Sales Tax Exemption

The North Carolina Governor July 11 signed a law regarding the Current Operations Appropriations Act of 2022. The law includes measures: 1) expanding the individual income tax exclusion of military retirement pay to include retirement pay for service in all uniformed services, including retirees of the National Oceanic and Atmospheric Administration and the U.S. Public Health Service, effective for taxable years beginning on or after Jan. 1; 2) providing that to qualify for the exclusion, a person must still serve at least 20 years in the uniformed service or be medically retired, as defined under federal law; and 3) exempting ...