Virginia May Let Younger Veterans Get Tax Break

Virginia lawmakers may soon consider removing the existing age restriction on people eligible for a military benefits income tax subtraction under a bill pre-filed ahead of the 2023 session. 

House Bill 1436 by Del. John J. McGuire, R-Goochland, proposes removing the age 55 or older restriction, which would allow younger veterans to take advantage of income tax subtractions of up to $40,000 in military benefits in the coming years.

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