How Is Reenlistment Bonus Calculated?
The product of 15 times the monthly rate of basic pay to which the member was entitled at the time of the discharge or release of the member; and. The product of the number of years (or the monthly fractions thereof) of the term of reenlistment or extension of enlistment of up to $90,000.
How are reenlistment bonuses paid?
The bonus is usually paid in a lump sum or 50% The remaining bonus amount is paid in equal annual installments. It is taxable, however if you reeenlist in a tax-free combat zone or are a foreign national who reenlists OCONUS it is not taxable, and the installments are also tax-free.
The Selective Reenlistment Bonus (SRB) | Military.com
How many reenlistment bonuses can you get in the Army?
Soldiers re-enlisting/extending cannot receive more than two bonus incentives during a contractual period.
Re-enlistment Extension Bonus - Army National Guard
How much do they tax reenlistment bonus?
You will also have taxes automatically withheld from your bonus, generally at the 25% or 28% rate. This is automatically done by the government, and not something you can change. If the withholding is too high for your tax bracket, then you will likely receive a larger than normal refund the following year.
Enlistment and Reenlistment Bonus Guide - The Military Wallet
When you reenlist when do you get your bonus?
Initial payment of selective reenlistment bonus to an eligible individual who reenlists with a break in active duty greater than 24 hours will be made no earlier than 30 days after arrival at the first permanent duty station following reenlistment.
ENLISTMENT AND REENLISTMENT BONUS - Under ...