Virginia filers may claim a refundable credit tied to federal earnings

The text allows an individual or married couple filing jointly to claim a refundable Virginia credit equal to 20 percent of their federal earned income credit. The provision covers individuals and married couples filing jointly who claim a federal earned income credit. The credit is claimed instead of the other credits described in this section. A filer cannot claim it in a year when the filer, spouse, or a dependent claims any of the five listed tax breaks. The credit applies to taxable years beginning on or after January 1, 2025, and before January 1, 2027.