Income tax, state; subtraction for tax, military retirement benefits, uniformed services.
Continued from last session
Summary
The bill amends Virginia Code § 58.1‑322.02 to let retirees from the Armed Forces, NOAA Corps and Public Health Service subtract their military retirement income from state taxable income. It also codifies a long list of other specific subtractions – from federal obligations to disaster‑related income – that reduce a taxpayer’s Virginia taxable income. The changes affect service members, veterans, low‑income workers, investors, and other Virginians who receive the listed types of income.
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