VirginiaIncome tax, state; subtractions for military benefits.
What it does
Individual income tax; subtractions; military benefits. Removes the cap on military benefits that may be subtracted from Virginia taxable income for taxable years beginning on and after January 1, 2026, allowing the total amount of such benefits to be subtracted from such income. Under current law, up to $40,000 of military benefits may be subtracted from Virginia taxable income.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Feb 18Left in FinanceLatest
- Feb 2Subcommittee recommends laying on the table (7-Y 2-N)
- Vote recorded Subcommittee recommends laying on the table. Result: pass.Lower
- Jan 20Fiscal Impact statement From TAX (1/20/2026 11:39 am)
- Jan 13Referred to Committee on FinanceMinor
- Jan 13Prefiled and ordered printed; Offered 01-14-2026 26101424DIntroduced