Income tax, corporate; lower rate for certain businesses. (SB807)

Introduced By

Sen. Bill Stanley (R-Moneta)

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, 2015. 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

History