State Tax Incentives for Long-Term Care Insurance



Deduction: Deduction of long-term care insurance premiums provided the individual has not claimed a similar deduction of federal return; a deduction for federal income tax purposes.

Chapter 298, §58. 7-322(0)(70)

Credit: Effective on Jan. 1, 200, a 15% credit against individual income tax for certain long-term care insurance premiums, reduced by those deducted from federal or Virginia income tax.

VA Code Ann 58. 7-322(0)(70)

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