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Taxable income; subtractions; military benefits. Removes the current cap of $40,000 of military benefits that may be subtracted from Virginia taxable income for taxable years beginning on and after January 1, 2026, such that the total amount of military benefits may be subtracted from such income.
Introduced
Jan 16, 2025
Last Action
Feb 4, 2025
Session
VA 2025
Sponsors
1 primary · 6 co
Left in Finance
Subcommittee recommends incorporating into HB2524-Fowler (Voice Vote)
Assigned Finance sub: Subcommittee #2
Impact statement from TAX (HB2700)
Presented and ordered printed 25103813D
Referred to Committee on Finance
Get a plain-English explanation of what this bill does, who it affects, and why it matters.
Left in Finance