SB865
Income tax, state; subtractions of military benefits.
Summary
As Introduced. Taxable income; subtractions; military benefits.
Removes the current cap of $40,000 of military benefits that may be subtracted from Virginia taxable income for taxable years beginning on and after January 1, 2026, such that the total amount of military benefits may be subtracted from such income.-
Bill History
- 01/03/2025 - Senate: Prefiled and ordered printed; Offered 01-08-2025 25103023D
- 01/03/2025 - Senate: Referred to Committee on Finance and Appropriations
- 01/23/2025 - Senate: Impact statement from TAX (SB865)
- 02/05/2025 - Senate: Left in Finance and Appropriations
