Virginia SB148 modifies state income tax by allowing subtractions for military retirement benefits and other specified income.
Virginia SB148 amends the state income tax code to allow subtractions for various types of military retirement benefits, including those received by service members and their surviving spouses. It also includes subtractions for specific income related to Nazi persecution victims, military death gratuity payments, and investments in Virginia real estate. The bill provides detailed criteria for these subtractions, including income limits and conditions for eligibility.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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