Income tax, corporate; lower rate for certain businesses. (SB745)
Introduced By
Progress
✓ |
Introduced |
✗ |
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 less 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 less, for taxable years beginning on or after January 1, 2013. The bill provides that 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. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
12/14/2012 | Prefiled and ordered printed; offered 01/09/13 13100295D |
12/14/2012 | Referred to Committee on Finance |
01/09/2013 | Impact statement from TAX (SB745) |
02/06/2013 | Left in Finance |