Income tax, state; telework expenses tax credit. (HB47)
Introduced By
Del. Scott Lingamfelter (R-Woodbridge)
Progress
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Introduced |
X |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
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 for taxable years beginning on or after January 1, 2011, but before January 1, 2013. 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 percent 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 $1 million annually for taxable years 2011 and 2012. Amends § 58.1-439.12:03 (“Motion picture production tax credit.”), of the Code of Virginia. View Full Text »
