Virginia Subject | Income Tax | Senate

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StanceStateBillStatusSummary/TitleLast Actionsort icon
VASB662Intro
25%		Income tax subtraction; state police retirement benefits. Establishes an income tax subtraction for up to $10,000 of state police retirement benefits in taxable year 2024 and each year thereafter. The bill defines state police retirement benefits to ...
[Detail][Text][Discuss]		2024-11-19
To Senate Finance and Appropriations Committee
VASB632Intro
25%		Taxation. Decreases, beginning in taxable year 2025, the income tax imposed (i) on income less than $3,000, from two percent to 1.75 percent; (ii) on income in excess of $3,000 but less than $5,000, from three percent to 2.65 percent; (iii) on income...
[Detail][Text][Discuss]		2024-11-19
To Senate Finance and Appropriations Committee
VASB459Intro
25%		Income tax; rolling conformity. Provides that when Virginia does not conform on a rolling basis to federal tax laws due to any changes in a single act of Congress with an impact of more than $15 million on revenues in the year in which the amendment ...
[Detail][Text][Discuss]		2024-11-19
To Senate Finance and Appropriations Committee
VASB10Intro
25%		Income tax subtraction; military retirement benefits; uniformed services. Expands the definition of "military benefits" to include an income tax subtraction of retirement income received for service in the uniformed services of the United States, whi...
[Detail][Text][Discuss]		2024-11-19
To Senate Finance and Appropriations Committee
VASB61Intro
25%		Income tax subtraction; firefighter benefits. Establishes an income tax subtraction for up to $20,000 of firefighter benefits in taxable year 2024, up to $30,000 in taxable year 2025, and up to $40,000 in taxable year 2026 and each year thereafter. T...
[Detail][Text][Discuss]		2024-11-19
To Senate Finance and Appropriations Committee
VASB108Intro
25%		Virginia taxable income; standard deduction. Removes the sunset on elevated standard deduction amounts for single individuals and married persons that was scheduled to expire for taxable years beginning on and after January 1, 2026.
[Detail][Text][Discuss]		2024-11-19
To Senate Finance and Appropriations Committee
VASB183Intro
25%		Earned income tax credit. Allows eligible low-income taxpayers to claim a refundable income tax credit equal to 20 percent of the federal earned income tax credit claimed that year by the taxpayer for the same taxable year. The bill also states that ...
[Detail][Text][Discuss]		2024-11-19
To Senate Finance and Appropriations Committee
VASB451Intro
25%		Corporate income tax; distribution of revenues; state parks. Requires five percent beginning July 1, 2024, of all corporate income tax revenues to be distributed to the State Park Conservation Resources Fund to provide (i) free entry to Virginia stat...
[Detail][Text][Discuss]		2024-11-19
To Senate Finance and Appropriations Committee
VASB419Intro
25%		Family caregiver tax credit. Creates a nonrefundable income tax credit for taxable years 2024 through 2028 for expenses incurred by an individual in caring for an eligible family member, defined in the bill, who requires assistance with one or more a...
[Detail][Text][Discuss]		2024-11-19
To Senate Finance and Appropriations Committee
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