Financial Benefits for Veterans in New York
2 Financial benefits for veterans in New York.
New York State Blind Annuity Program
Provides an annual annuity payment to legally blind wartime veterans, or their unremarried surviving spouses, who reside in New York State.
Eligibility: New York State resident wartime veterans (or their unremarried surviving spouse) who are legally blind (20/200 in the better eye with correction, or a 20-degree field limitation); blindness need not be service-connected.
Estimated value: Annual annuity payment (set by statute)
How to apply: Submit the Blind Annuity Application and Report of Legal Blindness form, with the veteran's discharge paperwork, to the NYS Department of Veterans' Services.
Military Retirement Pay Income Tax Exemption
Military pension and Survivor Benefit Plan payments are fully exempt from New York State, New York City, and Yonkers income taxes.
Eligibility: Retired service members (any branch) receiving military retirement pay, and beneficiaries receiving SBP payments; no income limits, age requirements, or caps.
Estimated value: 100% exemption of military retirement pay from NYS, NYC, and Yonkers income tax
How to apply: Subtract qualifying military pension income on your New York State income tax return (Form IT-201/IT-203); no separate application required.