Virginia Senate Bill 702: Income tax, state; brackets, deductions, and exemptions, inflation indexing.

Virginia · 2026 Regular Session

What it does

Individual income tax; brackets, deductions, and exemptions; inflation indexing. Adjusts annually the amount of the income tax brackets, standard deduction, personal and other individual exemptions and deductions, and filing threshold to the annual change in the Chained Consumer Price Index for All Urban Consumers (C-CPI-U). The bill directs the Department of Taxation to annually publish on its website the individual income tax inflation adjustments. This bill contains technical amendments.

Latest action

Continued to next session in Finance and Appropriations (10-Y 5-N) (2026-02-05)

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