OKLAHOMA CITY – A bill exempting military retirement pay from state income tax is now on the books. Sen. Brenda Stanley, vice chair of the Senate’s Veterans and Military Affairs Committee, said retired military in Oklahoma can take advantage of the income tax exemption beginning with the 2022 tax year.
“First of all, I am so excited for the many active and retired military members from Tinker right here in Senate District 42 – but the fact is, this is a major win for all of Oklahoma,” said Stanley, R-Midwest City. “Often when members of the military retire, they begin a second career. These are highly trained professionals with skills we need in our workforce. They’ll be spending their military pension right here in Oklahoma and their incomes from those second careers will put even more tax dollars into our economy.”
Stanley said after she presented SB 401 for final consideration in the Senate, members responded with a unanimous vote in favor of the measure. The governor signed the bill into law in the final week of the 2022 regular session.
“We have one of the highest active and retired military populations in the nation, and I’m hopeful this will boost our efforts to keep more of our retired military in Oklahoma,” Stanley said. “Our goal is to make Oklahoma the top destination for America’s heroes.”
For more information, contact:
Sen. Brenda Stanley at 405-521-5584 or email Brenda.Stanley@oksenate.gov.
CUTLINE: Sen. Brenda Stanley, R-Midwest City, presented Senate Bill 401 for final approval. The measure, which creates a state income tax exemption on military retirement pay, was approved unanimously by the full Senate and signed into law by Gov. Kevin Stitt.