HB 2114 Taxable income; increases amount for personal exemptions.
Raymond R. Guest, Jr. | all patrons    ...    notes
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Summary:
Virginia taxable income. Increases the amount of the deduction that may be taken for each personal exemption from $800 to $1,000 in taxable year 1995, $1,200 in taxable year 1996, $1,600 in taxable year 1997, $2,000 in taxable year 1998, and $2,400 in taxable year 1999 and thereafter. The deductions are taken from federal adjusted gross income in computing Virginia taxable income. A taxpayer may claim a deduction for each personal and dependent exemption allowable for federal income tax purposes and an additional deduction for each taxpayer who is blind or age 65 or over.

Full text:
01/23/95  House: Presented & ordered printed LD4587809  pdf

Status:
01/23/95  House: Presented & ordered printed LD4587809
01/23/95  House: Referred to Committee on Finance
01/26/95  House: Assigned to Finance sub-committee: 1
02/02/95  House: Passed by indefinitely in Finance (15-Y 7-N)