States / Virginia / HB 588

HB 588 In Committee

Income tax, state; subtractions for military benefits.

Introduced
In Committee
Floor
Crossed Over
Passed
Enacted

Individual income tax; subtractions; military benefits. Removes the cap on military benefits that may be subtracted from Virginia taxable income for taxable years beginning on and after January 1, 2026, allowing the total amount of such benefits to be subtracted from such income. Under current law, up to $40,000 of military benefits may be subtracted from Virginia taxable income.

Chamber
House
Introduced
Jan 13, 2026
Last action
Feb 18, 2026 — Left in Finance
Session
2026
Momentum
30 · Low