Maryland Retired Veterans Task Force The Case for Exempting Military Retired Pay from Taxation in the State of Maryland. Maryland Retired Veterans Task Force 1 Representing 26 Veterans Organizations Including
The American Legion Veterans of Foreign Wars Disabled American Veterans of America The Retired Enlisted Association Air Force Sergeants Association Military Officers Association of America Military Order of the Purple Heart Joint Veterans Committee of Maryland and others for a total of 26 Maryland Retired Veterans Task Force 2
Background There are over 512,000 veterans in Maryland Approximately one in three citizens are members of a veterans family There are over 42,000 retired veterans Seventy one percent (71%) of retirees are enlisted veterans. Maryland Retired Veterans Task Force 3 Background Continued
Most retirees have (or had) a security clearance. Most retirees will bring twenty or more years of experience in such diverse fields as computer programming and Bio/Tech engineering, etc. A military retiree will not put a burden on State health facilities. A military retiree will not put a burden on State education facilities. Maryland Retired Veterans Task Force 4 Analysis
The gross income that Retired Military Service Personnel (RMSP) bring to Maryland is $3,500,000,000 plus. The Gross State Income Tax (SIT) paid by RMSP was $168,882,098. The Real Estate Tax Paid was $59,119,277. Sales tax and others $25,000,000. For a total of $253,001,375. Maryland Retired Veterans Task Force 5
Analysis (Continued) In Fiscal Year 2002, the Defense Department contracted with and paid the Johns Hopkins University, Uniformed Services Family Health Plan, more than $89 million to provide health care to the families of retired and active duty service members. Data on similar Department of Defense expenditures for RMSP under the various TRICARE programs was not available, but is estimated to be in the of dollars. (Department of Defense TRICARE Management Activity) hundreds of millions
Maryland Retired Veterans Task Force 6 Analysis Continued Individual taxes paid by an RMSP State Income Tax on Retirement Income $1,370 State Income Tax on Second Income 4,888 1,389 Real EState Tax 587 Sales and Misc Tax
$8,233 Total taxes paid by RMSP Maryland Retired Veterans Task Force 7 Analysis Continued Exempting the $1,370 in State Income Tax now imposed on the military retired pay of each RMSP would yield $6,863 in total taxes for each RMSP attracted or retained in the State of Maryland. Maryland Retired Veterans
Task Force 8 Analysis Continued This indicates that in order to make the Bill tax neutral, Maryland needs to attract one in six RMSP who would normally leave Maryland. Give up $1370 to attract $6,863 $6,863 Maryland Retired Veterans Task Force
9 Attractiveness of Neighboring States To illustrate how insensitive Maryland tax policy is compared to some neighboring States, the following examples are provided, using 2001 data: In New Jersey, $307 million or 100% of military retired pay was exempt from State income tax. In Pennsylvania, $677 million or 100% of military retired pay was exempt from State income tax.
In Maryland, a paltry $11 million out of $846 million or about 1.3% of military retired pay was exempt from State income tax. Maryland Retired Veterans Task Force 10 The Question? Is this an indication that military retirees in Maryland have contributed less to their State and this Nation than military retirees in neighboring States?
Absolutely not, but Maryland's tax treatment of RMSP suggests that Maryland believes otherwise. Maryland Retired Veterans Task Force " 11 Retention/Loss by State Maryland Retired Veterans Task Force
12 Maryland Loss Maryland has lost elderly people to other States since the 1970s, but that trend has slowed. Most of the growth in retirement areas such as Worcester County is fed by relocations from elsewhere in Maryland. Maryland Retired Veterans Task Force 13 The Task Force Conclusion was:
The State income tax base and tax revenues will be enhanced if legislation is enacted to exempt military retirement pay from State and local income taxes, thereby attracting more RMSP to reside in Maryland. Maryland Retired Veterans Task Force 14
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