The Military Spouse Residency Relief Act

0:00The Military Spouse Residency Relief Act. This is a money minute from InCharge Education Foundation and MilitaryMoney.com. If you were the spouse of a military member, did you know that you may qualify for tax savings via the Military Spouse Residency Relief Act? Also known as the MSRA. The MSRA clarifies and protects military spouses with regard to residency, voting and taxation. The tax provisions in the MSRA have implications for both state income tax and certain personal property taxes. A military spouse is exempt from income taxes in a state where income was earned when these four qualifications are met. One, the spouse currently resides in a state different than the state of his or her domicile. Two, the spouse resides in a state solely to live with the service member. Three, the service member is present in the state and compliance with military orders, and four, the spouse and service member are both able to claim the same domicile. This money minute is made possible by InCharge debt solutions. Visit us online at www.incharge.org.