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2013 SESSION

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HB 1402 Income tax, state; adjusts elements of Virginia's individual income tax to account for inflation.

Introduced by: Mark L. Cole | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Individual income tax adjusted for inflation. Adjusts elements of Virginia's individual income tax to account for inflation. The individual income tax income brackets, return filing thresholds, standard deduction, and personal exemption amounts would be adjusted every two years beginning with taxable year 2015 by the percentage increase in the Consumer Price Index for All Urban Consumers (CPI-U), for all items, for the 24-month period ending on September 30 of the calendar year immediately preceding the affected calendar year


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