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2012 SESSION

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SB 463 Income tax, state; advances conformity with federal law.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income taxes.  Advances the date as of which Virginia income tax laws conform with the Internal Revenue Code from December 31, 2010, to December 31, 2011; restores conformity to certain provisions of the federal earned income tax credit for taxable year 2011 for purposes of Virginia's low-income taxpayer income tax credit; and reinstates the age deduction for individuals born on or before January 1, 1939, that was inadvertently deleted by Chapter 851 of the Acts of Assembly of 2011. The bill contains an emergency clause. This bill is identical to HB 516.


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