Published Jan 14, 2010
You are reading page 2 of Bonus's Taxed
what forms must be filled out and documents given to finally get the bonus and loan repayment? from my understanding, you get the bonus at your first duty station (which for my case will be at scottsdale). what about the loan repayment? around the same time? more paperwork? i'm confused!!!
About the loan, you should be getting an email with the steps you need to follow at your 1st duty station but the email should come well before that. I got an email from the ADHPLRP Program Manager about 3 weeks after I got the phone call about my 1st assignment even though I won't be going to OBLC until March. So yes it is more paperwork to fill out but it looks pretty straightforward.
The Little Greek
just to clarify as i'm still confused... so i have NTP in arizona but will be stationed (and currently live out here in california), does that mean that the bonus and loan money i will receive will be taxed by about 30-40%?what forms must be filled out and documents given to finally get the bonus and loan repayment? from my understanding, you get the bonus at your first duty station (which for my case will be at scottsdale). what about the loan repayment? around the same time? more paperwork? i'm confused!!!
I didn't have to go to NTP so I'm not exactly sure about this, but if I recall correctly from what my friends said, you'll get your bonus when you are at NTP and won't get your loan repayment until you get to your first base.
First, recall that when you signed all of your acceptance paperwork that there were some small blurbs in the paperwork about loan repayment and bonuses. Initialing by those blurbs told the AF "yes I want the extras" or "no thank you". Look through all those papers and you'll find them buried on one of the many pages you signed.
Now, given that the money was allocated to you, and your recruiter should know this, you will get your sign-on bonus shortly after reporting to NTP. Usually you get it within 30 days. No additional paperwork needed, it just shows up in your account one day.
With loan repayment there is additional paperwork and you'll have to fill it out within 30 days of inprocessing at your base. Someone from Wright-Patt will contact you (make sure your email on file is correct!!!) and let you know what needs to be filled out. It's really only one piece of paper that needs to be signed by your squadron commander. The rest of the process is you just telling Wright-Patt which loans you want paid. Make sure you carry your original school loan paperwork with you to COT so that if they contact you it's not packed up in your household goods.
As for your taxes, I really can't speak to that. I would assume that they would remove state tax too but I'm not sure how that works in CA. The feds will definitely get their cut, which in my case was 28%.
carolinapooh, BSN, RN
You only pay state tax in the state you are a resident of.
You will be stationed in CA, but that doesn't mean you're a CA resident. You will tell the AF what state you want to use as your state of residence in COT.
You are military. As long as you can provide a PHYSICAL, ACTUAL ADDRESS, you can legally claim any state as your state of residence. I was headed to TX, I knew TX had no state tax, so I became a TX resident. There was no way I was going to pay NC state tax.
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