Virginia state tax basis is the Federal Adjusted Gross Income (AGI).
Interest/Divident Income: Interest and Divident income from U.S. government bonds are exempt from State Taxes.
Rent Income: Same as federal
Capital Gain: Exclusion for gains on land sales for open space use
Unemployment Income: Unemployment income is exempt from state taxes.
Social Security Benefits: All social security income is exempt from state taxes.
State Bond Interest: Taxable except Virginia obligations
Health Savings Accounts: Same as federal
Disability: Deduction of up to $20,000/person
Lottery: Virginia lottery prizes of less than $600 exempt
Federal Income Tax: Not deductible
Other Taxes: Age based deductions for persons aged 64 and above, with income phase-out ranges for specific age groups. Subtractions for: $1,000 per child for foster parents; the salary for a federal or state employee with a total annual salary of less than $15,000; child and dependent care expenses; long-term care health insurance premiums; Avian influenza indemnification payments; income from peanut quota buyouts; bone marrow donor screening fees;
Check other state tax links below.