Income tax, corporate; lower rate for certain businesses. (HB149)
Introduced By
Del. Margaret Ransone (R-Kinsale)
Progress
√ |
Introduced |
X |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Corporate income tax; lower rate for certain businesses. Reduces the corporate income tax rate from six percent to three percent for the first three years after a business located outside Virginia opens a satellite office in a Virginia locality with a population of 200,000 or fewer or after a business located in a Virginia locality with a population exceeding 200,000 opens a satellite office or operation in a Virginia locality with a population of 200,000 or fewer, for taxable years beginning on or after January 1, 2012. The capital investment made by the corporation must be $250,000 or more and the tax reduction may not exceed the amount of that capital investment. Amends § 58.1-400, of the Code of Virginia. View Full Text »
Outcome
History
- 01/05/2012 Prefiled and ordered printed; offered 01/11/12 12102553D
- 01/05/2012 Referred to Committee on Finance
- 01/12/2012 Assigned Finance sub: Subcommittee #2
- 01/21/2012 Impact statement from TAX (HB149)
- 02/06/2012 Continued to 2013 in Finance
- 11/29/2012 Left in Finance
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