Dominion Post – The House approved its bill on Friday to exempt Social Security retirement benefits from state income tax and sent it to the Senate. Read full article.
HB 2001 gives retirees age 65 and up, or taxpayers of any age permanently and totally disabled two options: exclude Social Security benefits from taxation or exclude $8,000 of income from taxation — whichever produces the greatest savings.
The vote was 96-1. Delegate John Doyle, D-Jefferson, was the sole holdout. He said he’s 76. “I’d love to have the money but I don’t think the state can do without it.”
