I was working on our tax return. I input wage information even though I'm waiting on the W-2. It turns out all military income earned in our state is now exempt from state income tax, retroactive back to January 2011. This also means all income earned going forward is exempt from state taxes. This is huge!
Right now we are having $291.22 withheld each month for taxes. That is now money back in our pocket. Wow! I wasn't expecting that. I guess I'm not listening to the news close enough. This bill was signed into law on 5.11.11.
This also means our tax refund this year will be about $2300 or $1200 more than I expected. Nice!!
Oh, and you got to know I just online with DFAS to change our withholding to exempt. That will be effective February 1. Yipee!!
Now...I've really got to make sure this counts.
Just Found Out!!