Income tax, state; Virginia's standard deduction equivalent to federal standard deduction. (SB7)

Introduced By

Sen. Chap Petersen (D-Fairfax)

Progress

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

Description

Income tax; standard deduction. Provides that for taxable years beginning on and after January 1, 2022, Virginia's standard deduction shall be in an amount equivalent to the federal standard deduction. Read the Bill »

Status

12/06/2021: Awaiting a Vote in the Finance and Appropriations Committee

History

DateAction
12/06/2021Prefiled and ordered printed; offered 01/12/22 22100571D
12/06/2021Referred to Committee on Finance and Appropriations
01/23/2022Impact statement from TAX (SB7)
02/08/2022Continued to 2023 in Finance and Appropriations (11-Y 3-N 1-A) (see vote tally)

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