Income tax, corporate; lower rate for certain businesses. (SB61)

Introduced By

Sen. Bill Stanley (R-Moneta)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Failed


01/05/2012Prefiled and ordered printed; offered 01/11/12 12100753D
01/05/2012Referred to Committee on Finance
01/28/2012Impact statement from TAX (SB61)
02/08/2012Continued to 2013 in Finance (15-Y 0-N) (see vote tally)

Duplicate Bills

The following bills are identical to this one: HB149.