Proposed Bill Would Create Tax Exemption For Military Vets In Arkansas

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LITTLE ROCK (KFSM) — A proposed bill would create a tax exemption for military veterans and their families in the hopes of attracting more veterans to retire in the state.

House Representative Charlene Fite proposed the bill. She said the average military retiree is between 38-44, and they often chose states other than Arkansas to retire.

“We have, right now, 6,000 Arkansans who are on active duty in the military throughout the world,” Fite told THV11.

Fite said the bill would attract military personnel who have higher education, which is necessary for many jobs in Arkansas.

“A very high percentage of [veterans] have not only bachelor’s degrees but even advanced degrees both enlisted and officers,” said Retired Colonel Don Berry. “We have 6,000 members from Arkansas who are on active duty we have to find a way to bring them home.”

However, the bill is also tied to a number of things, including sales tax.

The bill proposes adding a one-percent sales increase on online products such as e-books, DVD rentals, and other digital products.

The bill is undergoing a review process by the Senate Committee on Revenue and Taxation.

 

 

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