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2018 SESSION

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SB 335 Income tax, state; increases deduction for personal exemptions.

Introduced by: Siobhan S. Dunnavant | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Virginia taxable income; deduction for personal exemptions. Increases the deduction, for purposes of computing Virginia taxable income, for personal exemptions. For taxable years beginning on and after January 1, 2019, a taxpayer may deduct $1,000 for each personal exemption allowable to the taxpayer on federal income taxes; current law allows a deduction of $930 per exemption. A taxpayer who is blind or aged may deduct an additional personal exemption in the amount of $900; current law allows an additional deduction of $800.


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