Income Tax - Subtraction Modification for Military Retirement Income - Individuals Under the Age of 55

Summary

The bill changes Maryland’s income‑tax code so that service members who retire from the military and are under 55 can subtract up to $20,000 of their retirement income, instead of the current $12,500. The change takes effect for tax years beginning after Dec. 31, 2025. It provides greater tax relief to younger military retirees living in Maryland.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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