Retail Sales and Use Tax; exemptions include certain wireless & broadband equipment. (HB2803)
Introduced By
Del. Kathy Byron (R-Lynchburg) with support from 6 copatrons, whose average partisan position is:
Those copatrons are Del. Ward Armstrong (D-Martinsville), Del. Steve Landes (R-Weyers Cave), Del. Lacey Putney (I-Bedford), Del. Rob Wittman (R-Montross), Sen. Lynwood Lewis (D-Accomac), Sen. Steve Newman (R-Forest)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax and sales and use tax; tax preferences for certain telecommunications service providers. Creates an income tax credit and sales and use tax exemption for wireless and broadband equipment purchased by telecommunications providers for use within rural areas of the Commonwealth. The income tax credit is equal to 30% of all expenditures for wireless and broadband equipment used in providing telecommunications services in the rural areas of the Commonwealth. There is a $1 million cap on the total amount of income tax credits that may be allowed in any tax year. Both preferences are effective in 2007. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/10/2007 | Committee |
01/10/2007 | Prefiled and ordered printed; offered 01/10/07 071305256 |
01/10/2007 | Referred to Committee on Finance |
01/18/2007 | Assigned Finance sub: #1 (Orrock) |
01/23/2007 | Impact statement from TAX (HB2803) |