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HB1937: Machinery and tools; classification and taxation for idle machinery and tools.

Chief Patron

Del. Harry Purkey (R-82)

Harry Purkey (R-82)
Virginia Beach, VA
Served: 1986–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

Bill is Dead

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Summary

Machinery and tools tax; idle machinery and tools. Provides a uniform statewide statutory classification and taxation for idle machinery and tools on a prospective basis by allowing such machinery and tools to be taxed as capital as long as they have not been used for at least one year prior to tax day and they have been identified in writing by the taxpayer to the commissioner of the revenue as such.

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Bill Text

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