Virginia Code 23.1-708: Assets of the Plan exempt from taxation
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The assets of the Plan and their income are exempt from state and local taxation.
Terms Used In Virginia Code 23.1-708
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Plan: means the Virginia College Savings Plan. See Virginia Code 23.1-700
- State: when applied to a part of the United States, includes any of the 50 states, the District of Columbia, the Commonwealth of Puerto Rico, Guam, the Northern Mariana Islands, and the United States Virgin Islands. See Virginia Code 1-245