States / Virginia / SB 143

SB 143 In Committee

Income tax, state; subtractions for income attributable to overtime.

Introduced
In Committee
Floor
Crossed Over
Passed
Enacted

Individual income tax subtractions; overtime. Establishes an individual income tax subtraction for income attributable to overtime in an amount equal to (i) 25 percent of the federal overtime deduction for taxable year 2026 and (ii) 50 percent of the federal overtime deduction for taxable year 2027 and thereafter.

Chamber
Senate
Introduced
Jan 7, 2026
Last action
Jul 21, 2026 — Continued from last session
Session
2027
Momentum
54 · Moderate