Small businesses; tax credit for those hiring graduates of Virginia's colleges. (HB191)

Introduced By

Del. Charniele Herring (D-Alexandria)

Description

Tax credit for small businesses hiring graduates of Virginia's colleges.  Creates, beginning January 1, 2012, an individual and corporate income tax credit for certain small businesses creating new full-time jobs that are filled by persons holding associate's or bachelor's degrees from in-state institutions of higher education. The credit would equal $2,500 for each such new full-time job. The credit would be claimed for the taxable year at which time the new full-time job was continuously filled for at least 12 months. Any unused credit would be allowed to be carried over for five taxable years. The tax credit would sunset in 2014. Read the Bill »

Outcome

History