Small business; creates an individual and corporate tax credit for those creating new jobs. (HB1370)

Introduced By

Del. Dickie Bell (R-Staunton)

Progress

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

Description

Small business job creation tax credit. Creates an individual and corporate income tax credit beginning January 1, 2013, for small businesses creating new full-time jobs in the Commonwealth. The credit would equal $1,000 for each new job created. A small business would be allowed the credit for an aggregate of 50 jobs. Any unused tax credit would be allowed to be carried forward for five taxable years. The credit would sunset on January 1, 2016.

Outcome

Bill Has Failed

History

DateAction
12/09/2012Committee
12/09/2012Prefiled and ordered printed; offered 01/09/13 13101272D
12/09/2012Referred to Committee on Finance
01/13/2013Impact statement from TAX (HB1370)
01/14/2013Assigned Finance sub: #3
01/25/2013Subcommittee recommends laying on the table (5-Y 0-N)
02/05/2013Left in Finance