Transitioning From The Military
Thinking about transitioning from the military, or already transitioned, and not quite sure of where you want to homestead? Check out the Army website below that provides all state/territory benefits for service members to compare the tax breaks and other benefits to Veterans, state by state. For example (not all-inclusive), TN has no state income tax, however sales tax is almost 10% (9.5), and TN does not tax military retirement pay. KY has state income tax of 5% and sales tax of 6%, however groceries/food is not taxed in KY, and military retirement is tax free up to about $31k year. I use the TN/KY as an example because they border each other, so it might be worth it to check out the states surrounding the state you’re thinking about living permanently. Each state is different, and maybe you already know where you want to live post-military, but nothing hurts to learn more about each state beforehand, in case you move later in life. #bandbvets #veteranshelpingveterans #militarytransition
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