Income tax, individual and corporate; small business job creation tax credit. (HB1439)

Introduced By

Del. Chris Head (R-Roanoke)

Progress

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

Description

Income tax; small business job creation tax credit. Provides a personal and corporate income tax credit in the amount of $1,500 for each job, as defined in the bill, created by a small business, for taxable years beginning on or after January 1, 2017, but before January 1, 2022. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
11/23/2016Committee
11/23/2016Prefiled and ordered printed; offered 01/11/17 17100159D
11/23/2016Referred to Committee on Finance
01/19/2017Assigned Finance sub: Subcommittee #3
01/19/2017Impact statement from TAX (HB1439)
01/27/2017Subcommittee recommends laying on the table
02/07/2017Left in Finance

Comments

Brad Hemp writes:

I'm in favor of this bill. As the owner of multiple small businesses, I can say that this tax credit would influence my decision to possibly add new jobs. It would also be a significant incentive to increase the pay rate for existing employees in order to become eligible for the credit.