{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-322.01.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-322.01.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-322.01.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-322.01.html"}],"law_id":85168,"edition_id":1,"section_id":85168,"structure_id":15071,"section_number":"58.1-322.01","catch_line":"Virginia taxable income; additions","history":"2017, c. 444.","full_text":"In computing Virginia taxable income pursuant to \u00a7 58.1-322, to the extent excluded from federal adjusted gross income, there shall be added:\n\n1\n\nInterest, less related expenses to the extent not deducted in determining federal income, on obligations of any state other than Virginia, or of a political subdivision of any such other state unless created by compact or agreement to which Virginia is a party.2\n\nInterest or dividends, less related expenses to the extent not deducted in determining federal taxable income, on obligations or securities of any authority, commission, or instrumentality of the United States, which the laws of the United States exempt from federal income tax but not from state income taxes.3\n\nUnrelated business taxable income as defined by § 512 of the Internal Revenue Code.4\n\nThe amount of a lump sum distribution from a qualified retirement plan, less the minimum distribution allowance and any amount excludable for federal income tax purposes that is excluded from federal adjusted gross income solely by virtue of an individual’s election to use the averaging provisions under § 402 of the Internal Revenue Code.5\n\nThe amount required to be included in income for the purpose of computing the partial tax on an accumulation distribution pursuant to § 667 of the Internal Revenue Code.6\n\nFor taxable years beginning on and after January 1, 2014, any loss for the taxable year that was deducted as a capital loss for federal income tax purposes by an account holder attributable to such person’s first-time home buyer savings account established pursuant to Chapter 12 (§ 36-171 et seq.) of Title 36. For purposes of this subdivision, “account holder” and “first-time home buyer savings account” mean the same as those terms are defined in § 36-171.7\n\nFor taxable years beginning on and after January 1, 2016, to the extent that tax credit is allowed for the same donation pursuant to § 58.1-439.12:12, any amount claimed as a federal income tax deduction for such donation under § 170 of the Internal Revenue Code, as amended or renumbered.","order_by":null,"text":{"0":{"id":305179,"text":"In computing Virginia taxable income pursuant to \u00a7 58.1-322, to the extent excluded from federal adjusted gross income, there shall be added:","type":"section","prefixes":[""],"prefix":"","entire_prefix":"","prefix_anchor":"","level":1,"next_prefix":"1"},"1":{"id":305180,"text":"Interest, less related expenses to the extent not deducted in determining federal income, on obligations of any state other than Virginia, or of a political subdivision of any such other state unless created by compact or agreement to which Virginia is a party.","type":"section","prefixes":["1"],"prefix":"1","entire_prefix":"1","prefix_anchor":"1","level":1,"prior_prefix":"","next_prefix":"2"},"2":{"id":305181,"text":"Interest or dividends, less related expenses to the extent not deducted in determining federal taxable income, on obligations or securities of any authority, commission, or instrumentality of the United States, which the laws of the United States exempt from federal income tax but not from state income taxes.","type":"section","prefixes":["2"],"prefix":"2","entire_prefix":"2","prefix_anchor":"2","level":1,"prior_prefix":"1","next_prefix":"3"},"3":{"id":305182,"text":"Unrelated business taxable income as defined by § 512 of the Internal Revenue Code.","type":"section","prefixes":["3"],"prefix":"3","entire_prefix":"3","prefix_anchor":"3","level":1,"prior_prefix":"2","next_prefix":"4"},"4":{"id":305183,"text":"The amount of a lump sum distribution from a qualified retirement plan, less the minimum distribution allowance and any amount excludable for federal income tax purposes that is excluded from federal adjusted gross income solely by virtue of an individual’s election to use the averaging provisions under § 402 of the Internal Revenue Code.","type":"section","prefixes":["4"],"prefix":"4","entire_prefix":"4","prefix_anchor":"4","level":1,"prior_prefix":"3","next_prefix":"5"},"5":{"id":305184,"text":"The amount required to be included in income for the purpose of computing the partial tax on an accumulation distribution pursuant to § 667 of the Internal Revenue Code.","type":"section","prefixes":["5"],"prefix":"5","entire_prefix":"5","prefix_anchor":"5","level":1,"prior_prefix":"4","next_prefix":"6"},"6":{"id":305185,"text":"For taxable years beginning on and after January 1, 2014, any loss for the taxable year that was deducted as a capital loss for federal income tax purposes by an account holder attributable to such person’s first-time home buyer savings account established pursuant to Chapter 12 (§ 36-171 et seq.) of Title 36. For purposes of this subdivision, “account holder” and “first-time home buyer savings account” mean the same as those terms are defined in § 36-171.","type":"section","prefixes":["6"],"prefix":"6","entire_prefix":"6","prefix_anchor":"6","level":1,"prior_prefix":"5","next_prefix":"7"},"7":{"id":305186,"text":"For taxable years beginning on and after January 1, 2016, to the extent that tax credit is allowed for the same donation pursuant to § 58.1-439.12:12, any amount claimed as a federal income tax deduction for such donation under § 170 of the Internal Revenue Code, as amended or renumbered.","type":"section","prefixes":["7"],"prefix":"7","entire_prefix":"7","prefix_anchor":"7","level":1,"prior_prefix":"6"}},"ancestry":[{"id":15071,"edition_id":1,"name":"Individual Income Tax","identifier":"2","label":"article","depth":4,"order_by":1,"parent_id":13152,"metadata":{},"date_created":"2026-06-26 03:51:58","date_modified":"2026-06-26 03:51:58","permalink":{"id":253971,"object_type":"structure","relational_id":15071,"identifier":"2","token":"58.1\/I\/3\/2","url":"\/58.1\/I\/3\/2\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13152,"edition_id":1,"name":"Income Tax","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12837,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":253267,"object_type":"structure","relational_id":13152,"identifier":"3","token":"58.1\/I\/3","url":"\/58.1\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12837,"edition_id":1,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":252075,"object_type":"structure","relational_id":12837,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":62270,"structure_id":15071,"section_number":"58.1-320","catch_line":"Imposition of tax","url":"\/58.1-320\/","token":"58.1\/I\/3\/2\/58.1-320","metadata":false},{"id":77087,"structure_id":15071,"section_number":"58.1-321","catch_line":"Exemptions and exclusions","url":"\/58.1-321\/","token":"58.1\/I\/3\/2\/58.1-321","metadata":false},{"id":74654,"structure_id":15071,"section_number":"58.1-322","catch_line":"Virginia taxable income of residents","url":"\/58.1-322\/","token":"58.1\/I\/3\/2\/58.1-322","metadata":false},{"id":85168,"structure_id":15071,"section_number":"58.1-322.01","catch_line":"Virginia taxable income; 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subtractions","url":"\/58.1-322.02\/","token":"58.1\/I\/3\/2\/58.1-322.02","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-322.01\/","history_text":"

This law was first created in 2017. The record of its establishment is cataloged in chapter 444<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":[{"id":75176,"section_number":"36-172","catch_line":"Claiming first-time home buyer status","order_by":null,"url":"\/36-172\/"},{"id":87170,"section_number":"36-173","catch_line":"Tax exemption; conditions","order_by":null,"url":"\/36-173\/"},{"id":82538,"section_number":"58.1-302","catch_line":"Definitions","order_by":null,"url":"\/58.1-302\/"},{"id":77087,"section_number":"58.1-321","catch_line":"Exemptions and exclusions","order_by":null,"url":"\/58.1-321\/"},{"id":74654,"section_number":"58.1-322","catch_line":"Virginia taxable income of residents","order_by":null,"url":"\/58.1-322\/"},{"id":69759,"section_number":"58.1-362","catch_line":"Virginia taxable income of a nonresident estate or trust","order_by":null,"url":"\/58.1-362\/"},{"id":57467,"section_number":"58.1-363","catch_line":"Share of a nonresident estate, trust, or beneficiary in income from Virginia sources","order_by":null,"url":"\/58.1-363\/"},{"id":68682,"section_number":"58.1-390.3","catch_line":"Elective income tax on pass-through entities","order_by":null,"url":"\/58.1-390.3\/"},{"id":62953,"section_number":"58.1-391","catch_line":"Virginia taxable income of owners of a pass-through entity","order_by":null,"url":"\/58.1-391\/"},{"id":58457,"section_number":"58.1-490","catch_line":"Declarations of estimated tax","order_by":null,"url":"\/58.1-490\/"}],"refers_to":[{"id":78722,"section_number":"36-171","catch_line":"Definitions","order_by":null,"url":"\/36-171\/"},{"id":74654,"section_number":"58.1-322","catch_line":"Virginia taxable income of residents","order_by":null,"url":"\/58.1-322\/"},{"id":65654,"section_number":"58.1-439.12:12","catch_line":"Food donation tax credit","order_by":null,"url":"\/58.1-439.12_12\/"}],"permalink":{"id":253985,"object_type":"law","relational_id":85168,"identifier":"58.1-322.01","token":"58.1\/I\/3\/2\/58.1-322.01","url":"\/58.1-322.01\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-322.01\/","token":"58.1\/I\/3\/2\/58.1-322.01","dublin_core":{"Title":"Virginia taxable income; additions","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-322.01","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

In computing Virginia taxable income pursuant to \u00a7 58.1-322<\/a>, to the extent excluded from federal adjusted gross income, there shall be added:<\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Interest, less related expenses to the extent not deducted in determining federal income, on obligations of any state other than Virginia, or of a political subdivision of any such other state unless created by compact or agreement to which Virginia is a party<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Interest or dividends, less related expenses to the extent not deducted in determining federal taxable income, on obligations or securities of any authority, commission, or instrumentality of the United States, which the laws<\/span> of the United States exempt from federal income tax but not from state income taxes. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Unrelated business taxable income as defined by § 512 of the Internal Revenue Code. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> The amount of a lump sum distribution from a qualified retirement plan, less the minimum distribution allowance and any amount excludable for federal income tax purposes that is excluded from federal adjusted gross income solely by virtue of an individual<\/span>’s election to use the averaging provisions under § 402 of the Internal Revenue Code. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The amount required to be included in income for the purpose of computing the partial tax on an accumulation distribution pursuant to § 667 of the Internal Revenue Code. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

6.<\/span> For taxable years beginning on and after January 1, 2014, any loss for the taxable year that was deducted as a capital loss for federal income tax purposes by an account holder<\/span> attributable to such person’s first-time home buyer savings account<\/span> established pursuant to Chapter 12 (§ 36-171<\/a> et seq.) of Title 36. For purposes of this subdivision, “account holder<\/span>” and “first-time home buyer savings account<\/span>” mean the same as those terms are defined in § 36-171<\/a>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

7.<\/span> For taxable years beginning on and after January 1, 2016, to the extent that tax credit is allowed for the same donation pursuant to § 58.1-439.12:12<\/a>, any amount claimed as a federal income tax deduction for such donation under § 170 of the Internal Revenue Code, as amended or renumbered. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nVIRGINIA TAXABLE INCOME; ADDITIONS (\u00a7 58.1-322.01)\n\nIn computing Virginia taxable income pursuant to \u00a7 58.1-322, to the extent\nexcluded from federal adjusted gross income, there shall be added:\n\n1. Interest, less related expenses to the extent not deducted in determining\nfederal income, on obligations of any state other than Virginia, or of a\npolitical subdivision of any such other state unless created by compact or\nagreement to which Virginia is a party.\n\n2. Interest or dividends, less related expenses to the extent not deducted in\ndetermining federal taxable income, on obligations or securities of any\nauthority, commission, or instrumentality of the United States, which the laws\nof the United States exempt from federal income tax but not from state income\ntaxes.\n\n3. Unrelated business taxable income as defined by § 512 of the Internal\nRevenue Code.\n\n4. The amount of a lump sum distribution from a qualified retirement plan, less\nthe minimum distribution allowance and any amount excludable for federal income\ntax purposes that is excluded from federal adjusted gross income solely by\nvirtue of an individual’s election to use the averaging provisions under\n§ 402 of the Internal Revenue Code.\n\n5. The amount required to be included in income for the purpose of computing the\npartial tax on an accumulation distribution pursuant to § 667 of the\nInternal Revenue Code.\n\n6. For taxable years beginning on and after January 1, 2014, any loss for the\ntaxable year that was deducted as a capital loss for federal income tax purposes\nby an account holder attributable to such person’s first-time home buyer\nsavings account established pursuant to Chapter 12 (§ 36-171 et seq.) of\nTitle 36. For purposes of this subdivision, “account holder” and\n“first-time home buyer savings account” mean the same as those terms\nare defined in § 36-171.\n\n7. For taxable years beginning on and after January 1, 2016, to the extent that\ntax credit is allowed for the same donation pursuant to § 58.1-439.12:12,\nany amount claimed as a federal income tax deduction for such donation under\n§ 170 of the Internal Revenue Code, as amended or renumbered.\n\nHISTORY: 2017, c. 444.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}