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2000 SESSION

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HB 802 Income tax; personal exemption.

Introduced by: Frank M. Ruff | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; personal exemption. Increases the personal exemption/deduction for Virginia taxable income purposes to the following amounts: (i) $1,400 for taxable year 2001; (ii) $2,000 for taxable year 2002; (iii) $2,600 for taxable year 2003; (iv) $3,200 for taxable year 2004; (v) $3,700 for taxable year 2005; and (vi) the greater of $4,000 or the federal exemption amount for taxable year 2006 and each taxable year thereafter. There are also technical corrections that delete obsolete language.


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