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House bills would lower state taxes on military pensions

Two bills introduced in the Minnesota House would lower state taxes on military pensions.
The hope is to provide an incentive for retired veterans to stay, or move to the state, because Minnesota is now one of only six states that tax military pens

Two bills introduced in the Minnesota House would lower state taxes on military pensions.

The hope is to provide an incentive for retired veterans to stay, or move to the state, because Minnesota is now one of only six states that tax military pensions, says the House Public Information Services.

The two bills were approved by the House Veterans Services Division. 

One, sponsored by Rep. Lyle Koenen (DFL-Clara City), would allow veterans to subtract up to $6,000 of their military retirement pay from their income taxes, if they’ve served for 20 or more years.

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The other, sponsored by Rep. Bob Dettmer (R-Forest Lake), phases in cuts over the next few years.