Income tax, state; exemption for certain small businesses. (HB2390)
Introduced By
Del. Albert Pollard (D-Lively)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; exemption for certain small businesses. Exempts certain small businesses from individual and corporate income tax for the first two years the business operates or until it produces $300,000 in gross income, whichever occurs first. A small business is defined as a business located in Virginia that is independently owned or operated by U.S. citizens or noncitizens in full compliance with U.S. immigration law and that has 250 or fewer employees. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/14/2011 | Committee |
01/14/2011 | Presented and ordered printed 11100832D |
01/14/2011 | Referred to Committee on Finance |
01/19/2011 | Assigned Finance sub: #1 |
01/25/2011 | Impact statement from TAX (HB2390) |
01/31/2011 | Subcommittee recommends passing by indefinitely |
02/08/2011 | Left in Finance |