2023 Virginia Code 23.1-708: Assets of the Plan exempt from taxation Current as of: 2023 | Check for updates | Other versions The assets of the Plan and their income are exempt from state and local taxation. Ask a legal question, get an answer ASAP!Click here to chat with a lawyer about your rights. 1994, c. 661, § 23-38.83; 2000, cc. 382, 400; 2016, c. 588.