SB1266: Income tax, corporate; telework expenses tax credit.

Chief Patron

Sen. Mark Herring (D-33)

Status

Bill is Dead

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Summary

Income tax; telework expenses tax credit.  Provides a tax credit to employers for expenses incurred in allowing employees to telework pursuant to a signed telework agreement. An employer would be eligible for a credit of up to $1,200 per teleworking employee, depending on the number of days per month an employee will telework and whether the employer's primary place of business is located in a nonattainment area under the federal Clean Air Act. There is also a 100% tax credit for costs the employer incurs for conducting a telework assessment in the year prior to implementing a formal telework program. This assessment credit is capped at $20,000 per employer. The aggregate amount of tax credits that will be issued is capped at $2 million annually for taxable years 2008 and 2009.

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