Retail Sales and Use Tax; refund of tax paid for certain machinery or equipment. (SB924)

Introduced By

Sen. Creigh Deeds (D-Charlottesville)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Retail sales and use tax; refund of tax paid for certain machinery or equipment. Provides for a refund of the retail sales and use tax paid on each article of machinery or equipment with a sales price of at least $50,000 if (i) the machinery or equipment is used in a Virginia locality; (ii) the purchaser provides evidence satisfactory to the Tax Commissioner that the machinery or equipment is part of a new investment that will result in the creation of at least 10 additional jobs by the purchaser paying at least the prevailing average wage (and the standard fringe benefits) in the locality in which the machinery or equipment is used; and (iii) the purchaser provides a sales receipt relating to the purchase or lease of the machinery or equipment. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/05/2009Prefiled and ordered printed; offered 01/14/09
01/05/2009Prefiled and ordered printed; offered 01/14/09 091130220
01/05/2009Referred to Committee on Finance
01/27/2009Impact statement from TAX (SB924)
02/11/2009Left in Finance