SDMAC to Release Report on Exempting California Military Retiree Pay from State Taxation
May 11, 2018

SDMAC to Release Report on Exempting California Military Retiree Pay from State Taxation

MEDIA ADVISORY
Contact:  Jack Chirrick
jlchirrick@gmail.com, (619) 228-4684

SDMAC to Release Report on Exempting California Military Retiree Pay from State Taxation

WHAT:           Announcement of study and Q & A with Chief Economist Lynn Reaser, PhD, CBE

WHEN:           May 11, 2018 at 2:00 p.m. PST

WHERE:        The Veterans Memorial Museum at Balboa Park, 2115 Park Boulevard, San Diego, CA 92101

SAN DIEGO, Calif. – The San Diego Military Advisory Council will release a report titled “Ending the Taxation of Military Retiree Pay in California” this Friday during a ceremony at the Veterans Memorial Museum at Balboa Park.  The study for the report, which was conducted by the Fermanian Business & Economic Institute, revealed that the elimination of state tax on military retiree pay in 2016 would have led to an increase in state and local revenue of $18.4 million.

”The results of this study, which was produced in partnership with the California Governor’s Military Council, provide important details that support Assemblymember Bill Brough’s bill, AB 2394 that seeks to incentivize more veterans to live in California by exempting their retirement pay from state income tax,” said Randy Bogle, Executive Director of SDMAC. 

California is one of only nine states, including Georgia, Montana, New Mexico, North Dakota, Oregon, Rhode Island, Vermont, and Virginia, to fully tax military retirement pay.  Ten states partially tax military retiree pensions and 31 states fully exempt military retiree pay from taxation.  By joining these 31 states, California would likely see additional economic benefits beyond state and local government revenue growth to include additional tax on post military retirement careers, gross state product, and total business sales.

Copies of the report will be distributed at the press conference or can be downloaded from the SDMAC web site at www.sdmac.org after Friday.    

About SDMAC
SDMAC was founded in 2004 with the mission to facilitate and advance the partnership between the military, elected officials, civic leaders, and the business community in order to enhance the understanding of the military’s many contributions to the San Diego region. Annually, SDMAC commissions an economic impact study showing the considerable benefits from defense-related spending and presence of the military in San Diego.

About FBEI
The FBEI specializes in providing a variety of business and economic consulting services to employers, for profit and nonprofit companies, individuals, organizations, government entities, and others throughout the San Diego Region, as well as nationally and internationally. Consulting services include economic analysis and forecasting, economic impact studies, business plans, customer and consumer trends, market research, feasibility studies, expert opinion, and many other contemporary needs of the business and economic community, public and private, for-profit and non-profit. The Institute also has extensive experience in presenting materials to government officials at all levels and in conducting interviews with local and national media outlets.

 

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