From the 153rd General Assembly, this Act amends Title 30 to propose increasing the personal income tax pension exclusion from $12,500 to $25,000. This adjustment applies to eligible retirement income for individuals aged 60 and older, and to military pensions for those under 60, beginning in tax year 2025. The bill aims to provide greater financial relief for retirees and veterans by expanding allowable deductions from federal adjusted gross income.
For the complete bill, please click here: https://legis.delaware.gov/BillDetail?LegislationId=142071