Thursday, July 24, 2008
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Tracking Virginia’s General Assembly
since 2007.
HB2181: Machinery and tools tax; provides uniform statewide statutory classification for idle machinery.
Chief Patron
Del.
Chris Saxman (R-20)
Chris Saxman
(R-20)
Staunton, VA
Served: 2002–
Progress
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Introduced |
 |
Passed Committee |
|
Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Status
03/09/2007: signed by governor
Summary
Machinery and tools tax; idle machinery and tools; emergency clause. 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. The bill has an emergency clause.
View Full Text »Identical Bills
The following bills are identical to this one: SB1151
Introduced: 2007-01-10
Status: Signed into Law
Poll Results
1 vote
Tags
Bill Text
Related Bills
Status: Failed to Pass in Committee
Status: signed by governor
Status: assigned to subcommittee
Status: Introduced
Status: assigned to subcommittee
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Comments
This seems like a good idea. If you've got $1M in machinery idle b/c you went out of business, it's tough to fork over $40,000 (or whatever) to the county every year in prop. taxes.
Good job, Frank Wagner. At least somebody's thinking about something besides how to make it more legally perilous to drive home from a Xmas party after having a glass of eggnog.