diff --git a/changelog_entry.yaml b/changelog_entry.yaml index e69de29bb2d..c12bd4d2606 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -0,0 +1,6 @@ +- bump: patch + changes: + changed: + - Update Virginia 2025 income tax parameters with 2025 Form 760 references + - Add rebate values for 2024 ($200/$400) and 2025 ($0) + - Add 2025 tests for standard deduction, EITC, military benefit subtraction, age deduction, rebate, and exemptions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/low_income_tax/base.yaml b/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/low_income_tax/base.yaml index 196d5a39577..9bcff72a594 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/low_income_tax/base.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/low_income_tax/base.yaml @@ -9,9 +9,11 @@ metadata: reference: - title: Code of Virginia § 58.1-339.8.B.1 href: https://law.lis.virginia.gov/vacode/title58.1/chapter3/section58.1-339.8/ - - title: Virginia 2024 Form 760 Resident Individual Income Tax Booklet + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=31 + - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=31 - - title: Virginia 2023 Form 760 Resident Individual Income Tax Booklet + - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2023-760-instructions.pdf#page=31 - title: Virginia 2022 Form 760 Resident Individual Income Tax Booklet href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2022-760-instructions.pdf#page=32 diff --git a/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/match/non_refundable.yaml b/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/match/non_refundable.yaml index 023bc88c6c7..d5fd15e88c4 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/match/non_refundable.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/match/non_refundable.yaml @@ -9,11 +9,13 @@ metadata: reference: - title: Code of Virginia § 58.1-339.8.B.2 href: https://law.lis.virginia.gov/vacode/title58.1/chapter3/section58.1-339.8/ - - title: Virginia 2021 Form 760 Resident Individual Income Tax Booklet - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2021-760-instructions.pdf#page=31 + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=31 + - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=31 + - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2023-760-instructions.pdf#page=31 - title: Virginia 2022 Form 760 Resident Individual Income Tax Booklet href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2022-760-instructions.pdf#page=32 - - title: Virginia 2023 Form 760 Resident Individual Income Tax Booklet - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2023-760-instructions.pdf#page=31 - - title: Virginia 2024 Form 760 Resident Individual Income Tax Booklet - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=31 + - title: Virginia 2021 Form 760 Resident Individual Income Tax Booklet + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2021-760-instructions.pdf#page=31 diff --git a/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/match/refundable.yaml b/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/match/refundable.yaml index b10e6bb1968..85a83757384 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/match/refundable.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/credits/eitc/match/refundable.yaml @@ -10,18 +10,20 @@ metadata: unit: /1 label: Virginia refundable earned income tax credit match reference: - - title: Virginia 2021 Form 760 Resident Individual Income Tax Booklet - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2021-760-instructions.pdf#page=32 - - title: Virginia 2022 Form 760 Resident Individual Income Tax Booklet - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2022-760-instructions.pdf#page=32 - # Virginia introduced the refundable EITC in 2022 - - title: Virginia 2023 Form 760 Resident Individual Income Tax Booklet - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2023-760-instructions.pdf#page=31 - - title: Virginia 2024 Form 760 Resident Individual Income Tax Booklet - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=31 - title: Code of Virginia § 58.1-339.8.B.3 href: https://law.lis.virginia.gov/vacode/title58.1/chapter3/section58.1-339.8/ + # Virginia introduced the refundable EITC in 2022 + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=31 + - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=31 + - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2023-760-instructions.pdf#page=31 + - title: Virginia 2022 Form 760 Resident Individual Income Tax Booklet + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2022-760-instructions.pdf#page=32 + - title: Virginia 2021 Form 760 Resident Individual Income Tax Booklet + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2021-760-instructions.pdf#page=32 # 2025 EITC reflected in statute - - title: House Bill 1600 (2025 Appropirations Act) + - title: House Bill 1600 (2025 Appropriations Act) href: https://legiscan.com/VA/text/HB1600/id/3262750/Virginia-2025-HB1600-Chaptered.pdf#page=783 diff --git a/policyengine_us/parameters/gov/states/va/tax/income/deductions/itemized/applicable_amount.yaml b/policyengine_us/parameters/gov/states/va/tax/income/deductions/itemized/applicable_amount.yaml index f1cb2f986b9..c9584702c59 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/deductions/itemized/applicable_amount.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/deductions/itemized/applicable_amount.yaml @@ -12,6 +12,7 @@ JOINT: 2022-01-01: 343_950 2023-01-01: 368_900 2024-01-01: 388_400 + 2025-01-01: 399_200 SINGLE: values: 2013-01-01: 250_000 @@ -25,6 +26,7 @@ SINGLE: 2022-01-01: 286_600 2023-01-01: 307_400 2024-01-01: 323_650 + 2025-01-01: 332_700 SEPARATE: values: 2013-01-01: 150_000 @@ -38,6 +40,7 @@ SEPARATE: 2022-01-01: 171_975 2023-01-01: 184_450 2024-01-01: 194_200 + 2025-01-01: 199_600 HEAD_OF_HOUSEHOLD: values: 2013-01-01: 275_000 @@ -51,6 +54,7 @@ HEAD_OF_HOUSEHOLD: 2022-01-01: 315_300 2023-01-01: 338_150 2024-01-01: 356_000 + 2025-01-01: 365_950 SURVIVING_SPOUSE: values: 2013-01-01: 300_000 @@ -64,6 +68,7 @@ SURVIVING_SPOUSE: 2022-01-01: 343_950 2023-01-01: 368_900 2024-01-01: 388_400 + 2025-01-01: 399_200 metadata: label: Virginia itemized deduction applicable amount period: year @@ -78,11 +83,13 @@ metadata: interval: 50 reference: # Virginia's limit conforms with the federal limit. The federal limit increases with inflation; thus, so does Virginia's. - # VA code § 58.1-301(B)(5) says to ignore the federal suspension of the Pease limitation. + # VA code § 58.1-301(B)(5) says to ignore the federal suspension of the Pease limitation. - title: 26 U.S. Code § 68 - Overall limitation on itemized deductions (b)(1) href: https://www.law.cornell.edu/uscode/text/26/68#b_1 - title: Applicable to taxable years beginning on or after January 1, 2022, but before January 1, 2023) Conformity to Internal Revenue Code. href: https://law.lis.virginia.gov/vacode/title58.1/chapter3/section58.1-301/ + - title: 2025 Virginia Schedule A Itemized Deductions + href: https://www.tax.virginia.gov/sites/default/files/taxforms/individual-income-tax/2025/schedule-2025.pdf#page=1 - title: 2024 Virginia Schedule A Itemized Deductions, Line 17 href: https://www.tax.virginia.gov/sites/default/files/taxforms/individual-income-tax/2024/schedule-2024.pdf#page=1 - title: 2023 Virginia Schedule A Itemized Deductions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/deductions/standard.yaml b/policyengine_us/parameters/gov/states/va/tax/income/deductions/standard.yaml index a6b07244fb6..82e906d2fbf 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/deductions/standard.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/deductions/standard.yaml @@ -8,7 +8,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.03.(1)(b) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ - # 2025 standard deduction reflected in statute + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=17 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=17 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/exemptions/aged_blind.yaml b/policyengine_us/parameters/gov/states/va/tax/income/exemptions/aged_blind.yaml index 64065f32f84..1ad63c66b11 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/exemptions/aged_blind.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/exemptions/aged_blind.yaml @@ -9,6 +9,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.03(2)(b) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=15 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=15 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/exemptions/personal.yaml b/policyengine_us/parameters/gov/states/va/tax/income/exemptions/personal.yaml index 90681af80f5..b929b32eea8 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/exemptions/personal.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/exemptions/personal.yaml @@ -9,6 +9,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.03(2)(a) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=15 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=15 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/exemptions/spouse_tax_adjustment/cap.yaml b/policyengine_us/parameters/gov/states/va/tax/income/exemptions/spouse_tax_adjustment/cap.yaml index 0d633481801..2048eb41f3d 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/exemptions/spouse_tax_adjustment/cap.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/exemptions/spouse_tax_adjustment/cap.yaml @@ -7,14 +7,16 @@ metadata: unit: currency-USD label: Virginia spouse tax adjustment cap reference: - - title: Virginia 2021 Form 760 Resident Individual Income Tax Booklet - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2021-760-instructions.pdf#page=20 - - title: Virginia 2022 Form 760 Resident Individual Income Tax Booklet - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2022-760-instructions.pdf#page=19 - - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions - href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2023-760-instructions.pdf#page=19 + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=19 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=19 - # The legal code does not explicitly include the spouse tax adjustment + - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2023-760-instructions.pdf#page=19 + - title: Virginia 2022 Form 760 Resident Individual Income Tax Booklet + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2022-760-instructions.pdf#page=19 + - title: Virginia 2021 Form 760 Resident Individual Income Tax Booklet + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2021-760-instructions.pdf#page=20 + # The legal code does not explicitly include the spouse tax adjustment - title: Virginia Department of Taxation href: https://www.tax.virginia.gov/filing-status diff --git a/policyengine_us/parameters/gov/states/va/tax/income/filing_requirement.yaml b/policyengine_us/parameters/gov/states/va/tax/income/filing_requirement.yaml index dbf144f8b9e..f8e3daf6fb7 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/filing_requirement.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/filing_requirement.yaml @@ -11,6 +11,8 @@ metadata: # However, in the tax instructions, VAGI is implicitly defined to include the age deduction. The following language is from the 2024 instructions: "Complete Form 760, Lines 1 through 9, to determine your Virginia adjusted gross income (VAGI)." Note that in 2024's Form 760, the age deduction is computed and subtracted from federal AGI in lines 4 and 9 respectively. - title: Code of Virginia § 58.1-321. Exemptions and exclusions. (A) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=9 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=9 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/rates.yaml b/policyengine_us/parameters/gov/states/va/tax/income/rates.yaml index 4acc075d107..23e78d46895 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/rates.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/rates.yaml @@ -7,6 +7,8 @@ metadata: reference: - title: Code of Virginia § 58.1-320. href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=41 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=41 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/rebate/amount.yaml b/policyengine_us/parameters/gov/states/va/tax/income/rebate/amount.yaml index 94a86197d7c..f29b903f3e0 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/rebate/amount.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/rebate/amount.yaml @@ -5,36 +5,41 @@ metadata: unit: currency-USD breakdown: - filing_status - reference: + reference: - title: Virginia 2023 legislative summary href: https://www.tax.virginia.gov/sites/default/files/inline-files/2023-legislative-summary.pdf#page=9 - title: Virginia 2023 Special Session I Budget Bill (Introduced) - HB6001 Item 3-5.28 - B href: https://budget.lis.virginia.gov/item/2023/2/HB6001/Introduced/3/3-5.28/ # Note that the link destination may change if there is a future rebate. As of 2025-02-14, it points to the "2023 Tax Rebate". - # The HB6001 budget defines this as a one-time rebate for 2023 tax returns, setting a specific rebate amount rather than enabling/disabling it with a boolean. + # The HB6001 budget defines this as a one-time rebate for 2023 tax returns, setting a specific rebate amount rather than enabling/disabling it with a boolean. - title: What You Need to Know About the 2023 Tax Rebate href: https://www.tax.virginia.gov/rebate - title: House Bill 1600 (2025 Appropriations Act) href: https://legiscan.com/VA/text/HB1600/id/3262750/Virginia-2025-HB1600-Chaptered.pdf#page=335 - # House Bill 1600 reauthorized rebate for tax year 2024 + # House Bill 1600 reauthorized rebate for tax year 2024; no rebate for tax year 2025 JOINT: 2021-01-01: 500 2022-01-01: 0 2023-01-01: 400 + 2025-01-01: 0 SINGLE: 2021-01-01: 250 2022-01-01: 0 2023-01-01: 200 + 2025-01-01: 0 SEPARATE: 2021-01-01: 250 2022-01-01: 0 2023-01-01: 200 + 2025-01-01: 0 HEAD_OF_HOUSEHOLD: 2021-01-01: 250 2022-01-01: 0 2023-01-01: 200 + 2025-01-01: 0 SURVIVING_SPOUSE: 2021-01-01: 250 2022-01-01: 0 2023-01-01: 200 + 2025-01-01: 0 diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/age_minimum.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/age_minimum.yaml index 13bdb5f8219..9ae33e51389 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/age_minimum.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/age_minimum.yaml @@ -7,6 +7,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.03.(5)(a)(b) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=15 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=15 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/amount.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/amount.yaml index 1c7c59439ca..90a5f25e7db 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/amount.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/amount.yaml @@ -8,6 +8,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.03.(5)(a)(b) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=16 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=16 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/birth_year_limit_for_full_amount.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/birth_year_limit_for_full_amount.yaml index 9df783957d7..1584be1d4c7 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/birth_year_limit_for_full_amount.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/birth_year_limit_for_full_amount.yaml @@ -8,6 +8,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.03.(5)(a)(b) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=16 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=15 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/threshold.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/threshold.yaml index 74b9b3a56b7..5a384482e14 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/threshold.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/age_deduction/threshold.yaml @@ -9,6 +9,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.03.(5)(a)(b) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=16 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=16 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/disability_income/amount.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/disability_income/amount.yaml index 0f947d7cfae..d605f44f4b2 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/disability_income/amount.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/disability_income/amount.yaml @@ -10,6 +10,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.02.(4) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=25 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=25 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/federal_state_employees/amount.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/federal_state_employees/amount.yaml index 7f6d486aa44..82072fffa20 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/federal_state_employees/amount.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/federal_state_employees/amount.yaml @@ -10,6 +10,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.02. (16) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=26 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=26 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_basic_pay/threshold.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_basic_pay/threshold.yaml index fe3fbb09634..21874180c39 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_basic_pay/threshold.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_basic_pay/threshold.yaml @@ -9,6 +9,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.02.(15) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=26 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=26 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_benefit/age_threshold.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_benefit/age_threshold.yaml index 492540ac92a..3e5a3a175f7 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_benefit/age_threshold.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_benefit/age_threshold.yaml @@ -8,8 +8,10 @@ metadata: period: year label: Virginia military benefit subtraction age threshold reference: - - title: Code of Virginia § 58.1-322.02. (18.b) - href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Code of Virginia § 58.1-322.02. (18.b) + href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=27 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=27 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_benefit/amount.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_benefit/amount.yaml index 6b9ee0a2cbc..789323f0b42 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_benefit/amount.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/military_benefit/amount.yaml @@ -13,6 +13,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.02. (18.b) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=27 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=27 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/national_guard_pay/cap.yaml b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/national_guard_pay/cap.yaml index 927c92703a9..0d0d32a1437 100644 --- a/policyengine_us/parameters/gov/states/va/tax/income/subtractions/national_guard_pay/cap.yaml +++ b/policyengine_us/parameters/gov/states/va/tax/income/subtractions/national_guard_pay/cap.yaml @@ -10,6 +10,8 @@ metadata: reference: - title: Code of Virginia § 58.1-322.02.(8) href: https://law.lis.virginia.gov/vacodefull/title58.1/chapter3/article2/ + - title: Virginia 2025 Form 760 Resident Individual Income Tax Instructions + href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2025-760-instructions.pdf#page=25 - title: Virginia 2024 Form 760 Resident Individual Income Tax Instructions href: https://www.tax.virginia.gov/sites/default/files/vatax-pdf/2024-760-instructions.pdf#page=25 - title: Virginia 2023 Form 760 Resident Individual Income Tax Instructions diff --git a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/credits/eitc/va_non_refundable_eitc_if_claimed.yaml b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/credits/eitc/va_non_refundable_eitc_if_claimed.yaml index 2f42812b36d..4e2e2233f9d 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/credits/eitc/va_non_refundable_eitc_if_claimed.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/credits/eitc/va_non_refundable_eitc_if_claimed.yaml @@ -24,3 +24,14 @@ va_low_income_tax_credit: 100 output: va_non_refundable_eitc_if_claimed: 400 + +# 2025 tests - per 2025 Form 760 Instructions page 31 +- name: VA 2025 Non-refundable EITC at 20% + period: 2025 + input: + state_code: VA + eitc: 4_000 + va_low_income_tax_credit: 0 + output: + # 2025: 20% of federal EITC + va_non_refundable_eitc_if_claimed: 800 diff --git a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/credits/eitc/va_refundable_eitc_if_claimed.yaml b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/credits/eitc/va_refundable_eitc_if_claimed.yaml index 91c3a97afb7..48a430872a6 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/credits/eitc/va_refundable_eitc_if_claimed.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/credits/eitc/va_refundable_eitc_if_claimed.yaml @@ -13,3 +13,21 @@ eitc: 0 output: va_refundable_eitc_if_claimed: 0 + +# 2025 tests - per 2025 Form 760 Instructions page 31 +- name: VA 2025 Refundable EITC at 20% + period: 2025 + input: + state_code: VA + eitc: 5_000 + output: + # 2025: 20% of federal EITC + va_refundable_eitc_if_claimed: 1_000 + +- name: VA 2025 Refundable EITC no federal credit + period: 2025 + input: + state_code: VA + eitc: 0 + output: + va_refundable_eitc_if_claimed: 0 diff --git a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/deductions/va_standard_deduction.yaml b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/deductions/va_standard_deduction.yaml index 63c6478ae1b..a5970286d55 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/deductions/va_standard_deduction.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/deductions/va_standard_deduction.yaml @@ -19,5 +19,30 @@ input: filing_status: SEPARATE state_code: VA - output: + output: va_standard_deduction: 8_000 + +# 2025 tests - per 2025 Form 760 Instructions page 17 +- name: VA 2025 Standard deduction if single filer + period: 2025 + input: + filing_status: SINGLE + state_code: VA + output: + va_standard_deduction: 8_750 + +- name: VA 2025 Standard deduction if married filing jointly + period: 2025 + input: + filing_status: JOINT + state_code: VA + output: + va_standard_deduction: 17_500 + +- name: VA 2025 Standard deduction if married filing separately + period: 2025 + input: + filing_status: SEPARATE + state_code: VA + output: + va_standard_deduction: 8_750 diff --git a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/exemptions/va_aged_blind_exemption_person.yaml b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/exemptions/va_aged_blind_exemption_person.yaml index 6e00e097551..6271b3c2f61 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/exemptions/va_aged_blind_exemption_person.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/exemptions/va_aged_blind_exemption_person.yaml @@ -33,3 +33,13 @@ is_blind: false output: va_aged_blind_exemption_person: 0 + +# 2025 test - per 2025 Form 760 Instructions page 15 +- name: VA 2025 aged exemption unchanged + period: 2025 + input: + state_code: VA + is_irs_aged: true + is_blind: false + output: + va_aged_blind_exemption_person: 800 diff --git a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/exemptions/va_personal_exemption_person.yaml b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/exemptions/va_personal_exemption_person.yaml index c71166d5168..326ea4ebf0f 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/exemptions/va_personal_exemption_person.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/exemptions/va_personal_exemption_person.yaml @@ -4,3 +4,11 @@ state_code: VA output: va_personal_exemption_person: 930 + +# 2025 test - per 2025 Form 760 Instructions page 15 +- name: VA 2025 Personal exemption unchanged + period: 2025 + input: + state_code: VA + output: + va_personal_exemption_person: 930 diff --git a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/subtractions/va_age_deduction.yaml b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/subtractions/va_age_deduction.yaml index bcb96c72407..6d7dae7003a 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/subtractions/va_age_deduction.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/subtractions/va_age_deduction.yaml @@ -202,3 +202,26 @@ age_spouse: 50 output: va_age_deduction: 7_000 + +# 2025 tests - per 2025 Form 760 Instructions page 16 +- name: VA 2025 age deduction full amount for senior born before 1939 + period: 2025 + input: + state_code: VA + va_age_deduction_agi: 60_000 + filing_status: SINGLE + age_head: 88 + output: + # Full $12,000 deduction for those born before Jan 1, 1939 + va_age_deduction: 12_000 + +- name: VA 2025 age deduction with phase-out + period: 2025 + input: + state_code: VA + va_age_deduction_agi: 55_000 + filing_status: SINGLE + age_head: 70 + output: + # $12,000 - ($55,000 - $50,000) = $7,000 + va_age_deduction: 7_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/subtractions/va_military_benefit_subtraction.yaml b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/subtractions/va_military_benefit_subtraction.yaml index 83b785b31ba..5aee17fc803 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/subtractions/va_military_benefit_subtraction.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/subtractions/va_military_benefit_subtraction.yaml @@ -210,3 +210,42 @@ output: # $0 since the individual has to be 55 or older to be eligible for the subtraction va_military_benefit_subtraction: 9_000 + +# 2025 tests - per 2025 Form 760 Instructions page 27 +- name: VA 2025 military benefit subtraction at $40,000 limit + period: 2025 + input: + people: + person1: + military_retirement_pay: 50_000 + is_tax_unit_head: true + age: 60 + tax_units: + tax_unit: + members: [person1] + households: + household: + members: [person1] + state_code: VA + output: + # 2025 limit is $40,000 + va_military_benefit_subtraction: 40_000 + +- name: VA 2025 military benefit subtraction under limit + period: 2025 + input: + people: + person1: + military_retirement_pay: 35_000 + is_tax_unit_head: true + age: 56 + tax_units: + tax_unit: + members: [person1] + households: + household: + members: [person1] + state_code: VA + output: + # Under $40,000 limit, full amount subtracted + va_military_benefit_subtraction: 35_000 diff --git a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/va_rebate.yaml b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/va_rebate.yaml index 51c885a3ac9..27a85eed1e2 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/va_rebate.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/va/tax/income/va_rebate.yaml @@ -13,3 +13,37 @@ state_code: VA output: va_rebate: 400 + +# 2024 tests - values inherited from 2023 per HB 1600 reauthorization +- name: 2024 single rebate + period: 2024 + input: + filing_status: SINGLE + state_code: VA + output: + va_rebate: 200 + +- name: 2024 joint rebate + period: 2024 + input: + filing_status: JOINT + state_code: VA + output: + va_rebate: 400 + +# 2025 tests - no rebate for 2025 +- name: 2025 single rebate discontinued + period: 2025 + input: + filing_status: SINGLE + state_code: VA + output: + va_rebate: 0 + +- name: 2025 joint rebate discontinued + period: 2025 + input: + filing_status: JOINT + state_code: VA + output: + va_rebate: 0