Income tax, state; small business investment tax credit. (HB2)

Introduced By

Del. Manoli Loupassi (R-Richmond)

Description

Income tax; small business investment tax credit. Provides a tax credit equal to 10% of the eligible investments made by small business taxpayers in personal property and real estate improvements used in the business. The investments must be made beginning July 1, 2010, but before July 1, 2011, and the minimum amount must be $10,000 in order to qualify for the credit. For purposes of the credit, a business qualifies as small if it has 500 or fewer employees. Amends § 58.1-439.12:03 (“Motion picture production tax credit.”), of the Code of Virginia. View Full Text »

Outcome

3 votes