VA SB1451 | 2023 | Regular Session

Status

Spectrum: Partisan Bill (Republican 16-0)
Status: Introduced on January 12 2023 - 25% progression, died in chamber
Action: 2023-01-31 - Passed by indefinitely in Finance and Appropriations (10-Y 5-N)
Text: Latest bill text (Introduced) [HTML]

Summary

Income tax; rates and deductions. Lowers the top income tax rate from 5.75 percent to 5.5 percent for taxable years beginning on and after January 1, 2024. The bill also raises the standard deduction to $9,000 for single individuals and $18,000 for married persons for taxable years beginning on and after January 1, 2024, but before January 1, 2026.

Tracking Information

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Title

Income tax, state; lowers rates and raises standard deductions.

Sponsors


Roll Calls

2023-01-31 - Senate - Senate: Passed by indefinitely in Finance and Appropriations (10-Y 5-N) (Y: 10 N: 5 NV: 0 Abs: 0) [PASS]

History

DateChamberAction
2023-01-31SenatePassed by indefinitely in Finance and Appropriations (10-Y 5-N)
2023-01-12SenateReferred to Committee on Finance and Appropriations
2023-01-12SenatePresented and ordered printed 23103701D

Subjects


Code Citations

ChapterArticleSectionCitation TypeStatute Text
581320(n/a)See Bill Text
581322.03(n/a)See Bill Text

Virginia State Sources


Bill Comments

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