                                 CODE OF VIRGINIA

EXEMPTIONS AND EXCLUSIONS (§ 58.1-321)

A. No tax levied pursuant to § 58.1-320 is imposed, nor any return required to
be filed, by:

   1. A single individual where the Virginia adjusted gross income plus the
   modification specified in subdivision 5 of &#xA7; 58.1-322.03 for such taxable
   year is less than $11,650 for taxable years beginning on and after January 1,
   2010, but before January 1, 2012.
   				A single individual where the Virginia adjusted gross income plus the
   modification specified in subdivision 5 of &#xA7; 58.1-322.03 for such taxable
   year is less than $11,950 for taxable years beginning on and after January 1,
   2012.

   2. An individual and spouse if their combined Virginia adjusted gross income
   plus the modification specified in subdivision 5 of &#xA7; 58.1-322.03 is less
   than $23,300 for taxable years beginning on and after January 1, 2010 (or
   one-half of such amount in the case of a married individual filing a separate
   return) but before January 1, 2012, and less than $23,900 for taxable years
   beginning on and after January 1, 2012 (or one-half of such amount in the case
   of a married individual filing a separate return).
   				For the purposes of this section, &#8220;Virginia adjusted gross
   income&#8221; means federal adjusted gross income for the taxable years with
   the modifications specified in &#xA7;&#xA7; 58.1-322.01 and 58.1-322.02.

B. Persons in the Armed Forces of the United States stationed on military or
naval reservations within Virginia who are not domiciled in Virginia shall not
be held liable to income taxation for compensation received from military or
naval service.

C. For taxable years beginning on and after January 1, 2020, but before January
1, 2026, any amount that is includible in the federal adjusted gross income of
an eligible veteran by reason of the whole or partial discharge of any loan
described in &#xA7; 108(f)(5)(B) of the Internal Revenue Code shall be excluded
from Virginia adjusted gross income. This exclusion shall apply only to those
discharges that (i) are described in clauses (i), (ii), and (iii) of &#xA7;
108(f)(5)(A) of the Internal Revenue Code and (ii) occur after December 31,
2017. For the purposes of this subsection, &#8220;eligible veteran&#8221; means
a veteran who has been rated by the U.S. Department of Veterans Affairs, or its
successor agency pursuant to federal law, to have a 100 percent
service-connected, permanent, and total disability.

HISTORY: Code 1950, §§ 58-151.03, 58.1-016; 1971, Ex. Sess., c. 171; 1972, cc.
310, 827; 1978, cc. 159, 796; 1981, c. 402; 1984, c. 675; 1987, c. 9; 1993, c.
803; 2004, Sp. Sess. I, c. 3; 2007, cc. 527, 543; 2017, c. 444; 2020, c. 606.