Delaware HB108 modifies personal income tax by adjusting the amount of pensions and retirement income that can be subtracted from federal adjusted.
Delaware HB108 amends Title 30 of the Delaware Code to modify personal income tax by adjusting the amount of pensions and retirement income that can be subtracted from federal adjusted gross income. For taxable years beginning before January 1, 2022, certain pensions and retirement income are subtracted from federal adjusted gross income. For taxable years beginning on or after January 1, 2022, and before January 1, 2025, the bill increases the subtraction limit for military pensions for persons under age 60.
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