Bill
Bill > SB143
summary
Introduced
01/07/2026
01/07/2026
In Committee
01/07/2026
01/07/2026
Crossed Over
Passed
Dead
Introduced Session
2026 Regular Regular Session
Bill Summary
Individual income tax subtractions; overtime. Establishes an individual income tax subtraction for income attributable to overtime in an amount equal to (i) 25 percent of the federal overtime deduction for taxable year 2026 and (ii) 50 percent of the federal overtime deduction for taxable year 2027 and thereafter.
AI Summary
This bill establishes a new subtraction for individual income tax for income earned from overtime work. For taxable years beginning on or after January 1, 2026, but before January 1, 2027, taxpayers can subtract 25% of the overtime deduction they are permitted under Section 2205 of the Internal Revenue Code (IRC). For taxable years beginning on or after January 1, 2027, this subtraction increases to 50% of the federal overtime deduction. The IRC, or Internal Revenue Code, is the body of federal law that governs U.S. income tax. This provision aims to provide tax relief to individuals who work overtime, encouraging them to earn additional income.
Committee Categories
Budget and Finance
Sponsors (15)
Ryan McDougle (R)*,
Tammy Brankley Mulchi (R),
Luther Cifers (R),
Bill DeSteph (R),
J.D. Diggs (R),
Tara Durant (R),
Timmy French (R),
Travis Hackworth (R),
Chris Head (R),
Christie New Craig (R),
Mark Obenshain (R),
Mark Peake (R),
Todd Pillion (R),
William Stanley (R),
Glen Sturtevant (R),
Last Action
Continued to next session in Finance and Appropriations (9-Y 5-N) (on 01/20/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://lis.virginia.gov/bill-details/20261/SB143 |
| Fiscal Note/Analysis - Fiscal Impact statement From TAX (1/17/2026 9:40 am) | https://lis.blob.core.windows.net/files/1089563.PDF |
| BillText | https://lis.virginia.gov/bill-details/20261/SB143/text/SB143 |
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