SB 904 Taxable income; increases amount for personal exemptions.
William C. Wampler, 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  Senate: Presented & ordered printed LD4586809  pdf

Status:
01/23/95  Senate: Presented & ordered printed LD4586809
01/23/95  Senate: Referred to Committee on Finance
02/07/95  Senate: Defeated by Finance (3-Y 12-N)