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While a rate change had been discussed, I do not believe the Virginia tax rates have changed. According to the best information we have received, the Governor of Virginia signed tax conformity legislation on Friday February 15, 2019, bringing Virginia into conformity with the Tax Cuts and Jobs Act of 2017 and increasing the state's standard deduction for the first time since 2005.
The Department of Revenue did not begin processing tax returns until after the Governor signed the changes into law. It is our understanding that all returns that have been submitted will be processed using the new conformity date and standard deduction, so no amended filing should be anticipated.
While a rate change had been discussed, I do not believe the Virginia tax rates have changed. According to the best information we have received, the Governor of Virginia signed tax conformity legislation on Friday February 15, 2019, bringing Virginia into conformity with the Tax Cuts and Jobs Act of 2017 and increasing the state's standard deduction for the first time since 2005.
The Department of Revenue did not begin processing tax returns until after the Governor signed the changes into law. It is our understanding that all returns that have been submitted will be processed using the new conformity date and standard deduction, so no amended filing should be anticipated.
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