Income tax, corporate; lower rate for certain businesses. (HB149)

Introduced By

Del. Margaret Ransone (R-Kinsale)

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 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. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/05/2012Committee
01/05/2012Prefiled and ordered printed; offered 01/11/12 12102553D
01/05/2012Referred to Committee on Finance
01/12/2012Assigned Finance sub: Subcommittee #2
01/21/2012Impact statement from TAX (HB149)
02/06/2012Continued to 2013 in Finance

Duplicate Bills

The following bills are identical to this one: SB61.