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1999 SESSION

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HB 1584 Income tax; subtraction for first $15,000 of military basic pay.

Introduced by: M. Kirkland Cox | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED:

Income tax; subtraction for first $15,000 of military basic pay. Allows a subtraction of $15,000 from income tax for military basic pay with such amount being reduced dollar-for-dollar when the taxpayer’s military basic pay exceeds $15,000 and no subtraction allowed if such basic pay equals or exceeds $30,000.

SUMMARY AS PASSED HOUSE:

Income tax; subtraction for first $15,000 of military basic pay. For taxable years beginning on or after January 1, 2000, allows a subtraction of $15,000 from income tax for military basic pay with such amount being reduced dollar-for-dollar when the taxpayer’s military basic pay exceeds $15,000 and no subtraction allowed if such basic pay equals or exceeds $30,000. The bill also allows a subtraction for the first $15,000 of salary for federal and state employees and National Guard members whose annual salary is $15,000 or less.

SUMMARY AS INTRODUCED:

Income tax; subtraction for first $15,000 of military basic pay. For taxable years beginning on or after January 1, 2000, allows a subtraction of $15,000 from income tax for military basic pay with such amount being reduced dollar-for-dollar when the taxpayer’s military basic pay exceeds $15,000 and no subtraction allowed if such basic pay equals or exceeds $30,000.