Income tax, corporate; taxes paid in another state. (SB78)

Introduced By

Sen. John Watkins (R-Midlothian)

Progress

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

Description

Corporate tax credit; taxes paid in another state.  Allows an entity that pays corporate income tax in Virginia based upon 100 percent of its sales to receive a tax credit equal to the amount of income tax paid in another state for sales in that state. The tax credit would apply to tax years beginning on or after January 1, 2012. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/05/2012Prefiled and ordered printed; offered 01/11/12 12102723D
01/05/2012Referred to Committee on Finance
01/28/2012Impact statement from TAX (SB78)
02/14/2012Stricken at request of Patron in Finance (15-Y 0-N) (see vote tally)

Duplicate Bills

The following bills are identical to this one: HB811.