Tags: Retirement | retirement | Arkansas | veterans

Veterans Guide to Retiring in Arkansas

By    |   Tuesday, 02 Jun 2015 07:14 PM

If you are considering retirement in Arkansas, there are a lot of questions to ask, including the cost of living and the typical weather conditions. However, for veterans of the military services, there are more questions and much more information to know. When it comes to retirement in Arkansas, there are some nice benefits, although there are also controversies when it comes to tax information. Here is a look at what veterans need to know before they decide on retirement in Arkansas.

Free Retirement Calculator: When Can You Retire? —
Click Here to Find Out

  1. Tax Exemptions - There are a few tax laws that veterans should keep in mind before choosing the state as their retirement destination. The Homestead and Personal Property Tax Exemption makes disabled veterans that meet certain criteria exempt from the state's income taxes. For all active members of the armed forces, the state offers an exemption of up to $9,000, and for all retired veterans, the exemption drops to $6,000. The low amount of exempted income created a huge controversy earlier in 2015, and many veterans arrived at the capital to fight for better exemptions. Neighboring states like Louisiana, Texas, Tennessee, and Mississippi don't tax military retirement pay at all.
  2. Hunting and Fishing License - Arkansas cuts military retirees a break on their fishing and hunting license and permits. As of 2015, resident military retirees can get a lifetime fishing license for only $10.50 and a lifetime hunting permit for only $25. If they want to hunt and fish, they can get both for only $33.50. The retirees must be 60 years of age or older and provide proof of military retirement and 60-days proof of Arkansas residency.
  3. How Soon Can You Retire? Free Test Shows You When — Click Here

  4. Education Benefits - The Military Dependent Scholarship is eligible to children of veterans who are disabled due to their service. Veterans of World War II, the Korean War, or Vietnam War who were unable to complete their high school education can apply to receive a high school diploma in the state of Arkansas as well.
  5. Arkansas State Veterans Home - The Arkansas State Veterans Home is located in Fayetteville and opened in 2006. This is a 108-bed facility which is Medicaid and Medicare licensed for veterans. The Arkansas Department of Veterans Affairs operates the center. In order to receive admission to the center, a veteran needs to have a clean criminal record, be honorably discharged, have a medical need that requires admission, and Arkansas residents get first priority for beds.
An Extremely Simple Way to Determine If You're Ready to Retire — Find Out Now

© 2017 Newsmax. All rights reserved.

   
1Like our page
2Share
FastFeatures
If you are considering retirement in Arkansas, there are a lot of questions to ask, including the cost of living and the typical weather conditions. However, for veterans of the military services, there are more questions and much more information to know.
retirement, Arkansas, veterans
438
2015-14-02
Tuesday, 02 Jun 2015 07:14 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved