SEARCH SITE

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2022 SPECIAL SESSION I

  • | print version

HB 1128 Income tax, state; military benefits subtraction.

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

SUMMARY AS PASSED: (all summaries)

Income tax; military benefits subtraction. Establishes an income tax subtraction for up to $10,000 of military benefits in taxable year 2022, up to $20,000 of military benefits in taxable year 2023, up to $30,000 in taxable year 2024, and up to $40,000 in taxable year 2025 and each taxable year thereafter. The bill defines military benefits to include military retirement income for recipients who are age 55 or older and benefits paid to the surviving spouse of a veteran. This bill is identical to SB 528.


FULL TEXT

AMENDMENTS

HISTORY