SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
1999 SESSION
SB 1160 Income tax; subtraction for military and low-income pay.
Introduced by: Stanley C. Walker | all patrons ... notes | add to my profiles | history
SUMMARY AS PASSED:
Virginia taxable income; subtraction for 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. It also allows a subtraction for the first $15,000 of salary for federal and state employees whose annual salary is $15,000 or less, effective January 1, 2000. The act will take effect January 1, 2000, unless one of the circuit-breakers in the Personal Property Tax Relief Act of 1998 has occurred prior to that date. If such an event has occurred, the effective date is postponed until January 1 after the year when a circuit-breaking event has not occurred.
SUMMARY AS PASSED SENATE:
Virginia taxable income; subtraction for 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 Act will take effect January 1, 2000, unless one of the circuit-breakers in the Personal Property Tax Relief Act of 1998 has occurred prior to that date. If such an event has occurred, the effective date is postponed until January 1 after the year when a circuit-breaking event has not occurred.
SUMMARY AS INTRODUCED:
Virginia taxable income; subtraction for military basic pay. For taxable years beginning on or after January 1, 1999, 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.