SB7

Virginia SB7 modifies state income tax deductions and credits, including standard deductions and earned income tax credits.

Virginia SB7 adjusts state income tax provisions by altering standard deductions and earned income tax credits. It specifies different deduction amounts based on birth year and marital status, and introduces a refundable credit for low-income taxpayers. The bill also details various deductions for educational expenses, energy-efficient upgrades, and other specific expenditures. These changes impact individual and married taxpayers filing state income tax returns in Virginia.