HB1414 - Estate tax; reinstates tax for persons dying on and after July 1, 2024.
Virginia - 2025 Regular Session
Introduced byElizabeth B. Bennett-Parker
Last updated 9 months ago
1 Co-Sponsor
Reinstatement of the estate tax. Reinstates the estate tax for persons dying on and after July 1, 2024. The bill provides that no estate tax shall be imposed on a gross estate if the majority of the assets of the estate are an interest in a closely held business or a working farm. The bill designates revenues from the estate tax to be used for early childhood care and education purposes.
STATUS
Introduced
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