Income tax, state; itemization. (HB1618)

Introduced By

Del. Dickie Bell (R-Staunton)

Progress

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

Description

Individual income tax; itemization; emergency. Allows an individual taxpayer to itemize for state income tax purposes regardless of whether he itemizes on his federal return for taxable years 2018 through 2025. Current law requires a taxpayer to claim the standard deduction on his state return if he claims the standard deduction on his federal return. The bill contains an emergency clause. Read the Bill »

Status

09/17/2018: Awaiting a Vote in the Finance Committee

History

DateAction
09/17/2018Prefiled and ordered printed with emergency clause; offered 01/09/19 19100357D
09/17/2018Committee
09/17/2018Referred to Committee on Finance

Comments

Bill T Peabody writes:

doubling the standard deduction brings the amount back to par after adjusting for inflation. It's been over 20 years folks!

Lou Di Leonardo writes:

Itemization usually results in LOWER tax bills. If the State of Virginia allows itemization to account for high local real estate taxes, it is the State that will lose money needed to pay for the foolish expansion of Medicaid into the middle class. State authorities won't allow it for that reason alone.

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