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The Court ruled in favor of a Michigan resident, a federal retiree, who claimed that it was in violation of federal law for a state to tax federal retirement benefits while allowing state retirement benefits to be tax free. This ruling impacts 14 states, including Virginia.
In addition to creating a reduction in revenue of approximately $150 million for the fiscal year ending June 1990, this ruling makes it necessary that Virginia adjust its tax laws to conform with the position of the Supreme Court.
The Governor has indicated that he will call a special session to deal with this problem before the end of April. While many options have already been suggested, it is unclear what action will be taken to correct the problem.
The case was argued before the court on Jan. 9, two days before the session started! It is hard to believe that the State’s Attorney General
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