Estate tax; exemptions. (HB519)
Introduced By
Del. Ward Armstrong (D-Martinsville)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Estate tax. Exempts from the estate tax (i) all estates where the majority of assets are an interest in a closely held business, including working farms, and (ii) all estates where the gross estate is worth $10 million or less. Amends § 58.1-901 (“Definitions.”), § 58.1-902 (“Tax on transfer of taxable estate of residents; amounts; credit; property of resident defined.”), of the Code of Virginia. View Full Text »
Outcome
Bill Has Failed
View Bill's History
