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.

2022 SESSION

• | print version

HB 1128 Income tax, state; military benefits subtraction, taxable years beginning on or after Jan. 1, 2022.

Introduced by: John J. McGuire, III | all patrons    ...    notes | add to my profiles | history

SUMMARY AS PASSED HOUSE:

Income tax; military benefits subtraction; emergency. Establishes an income tax subtraction for up to $20,000 of military benefits in taxable year 2022, up to $30,000 in taxable year 2023, and up to $40,000 in taxable year 2024 and each year thereafter. The bill defines military benefits to include military retirement income and benefits paid to the surviving spouse of a veteran. The bill contains an emergency clause.

SUMMARY AS INTRODUCED:

Income tax; military benefits subtraction; emergency. Establishes an income tax subtraction for up to $20,000 of military benefits in taxable year 2021, up to $30,000 in taxable year 2022, and up to $40,000 in taxable year 2023 and each year thereafter. The bill defines military benefits to include military retirement income and benefits paid to the surviving spouse of a veteran. The bill contains an emergency clause.