Income tax, state; modifies tax by establishing a flat 5.75% tax on all taxable income. (SB757)

Introduced By

Sen. Mark Obenshain (R-Harrisonburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Individual income tax. Modifies the individual income tax by establishing a flat 5.75% tax on all taxable income. The bill also increases the standard deduction from $6,000 to $15,000 for married persons and from $3,000 to $7,500 for single individuals. The changes are effective for taxable years beginning on and after January 1, 2017. Read the Bill »

Status

02/09/2016: Failed to Pass in Committee

History

DateAction
01/22/2016Presented and ordered printed 16103590D
01/22/2016Referred to Committee on Finance
02/01/2016Impact statement from TAX (SB757)
02/09/2016Continued to 2017 in Finance (15-Y 0-N) (see vote tally)