@TurboTaxToddL so how do current active duty members take advantage of the Colorado Honoring Our Military Exemption (H.O.M.E) Act?
I currently have vehicles registered in the state of North Carolina and have lived here for two years, possessing a physical address (through a lease). Does this mean I am legally a resident of North Carolina? According to my MyPay account, I pay Colorado state income taxes and my Home of Record is Colorado.
Do I just need to submit evidence explicitly stating I live in North Carolina (a physical address- say from the North Carolina DMV for registering my vehicles), along with proof that my home of record is Colorado (say from my Officer Record Brief), and say a "last will and testament that indicates Colorado as the individual’s state of legal residence" in order to qualify for this exemption?
This law is incredibly confusing. The actual legislation from Colorado's website specifically states
"The general assembly hereby finds and declares that the intended purpose of the state income tax
exemption created in this act is to encourage Colorado residents who serve
on active duty in the armed forces of the United States to retain their
resident status in Colorado and to allow active duty service members to
retain their identity as Colorado residents so that no matter where they
serve, they can always call Colorado their home."
That specific verbiage suggests any military member from Colorado doesn't need to pay income taxes- but how?
