Before you can figure a bonus, you'll need to understand that bonuses are paid off of "
Additional Obligated Service" or AOS. This is the time
AFTER your current contractual ETS.
Here is the Selective Reenlistment Bonus formula:
Step 1Take Soldier's Monthly Base Pay amount and divide this by 12 (for a monthly amount, which bonuses are paid)
(Round up to nearest cent)
Step 2Multiply the "monthly amount" by the bonus multiplier
(This multipler can be found in the latest MILPER Message)
Step 3Multiply that by the AOS or "Additional Obligated Service"
(You get the AOS by subtracting the NEW ETS with the OLD ETS)
That is your Bonus.
If you are deployed to Iraq, Afghanistan or Kuwait, your bonus is TAX-FREE.
If you are on a stateside assignment, you will be paying 25% (not 28%) taxes on that amount.