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1995 SESSION

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SB 344 Retirement deduction from Virginia adjusted gross income.

Introduced by: Kevin G. Miller | all patrons    ...    notes | add to my profiles

SUMMARY:

Retirement deduction from Virginia adjusted gross income. Reduces the retirement deduction for individuals 65 and over from $12,000 to $6,472, and for individuals 62 through 64 from $6,000 to $3,236, effective for taxable years beginning January 1, 1994. Also eliminates the requirement that the retirement deduction from Virginia adjusted gross income be reduced by Social Security or railroad retirement income.


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