Income tax, corporate; lowers rate of taxation. (HB539)

Introduced By

Del. Vivian Watts (D-Annandale) with support from 16 copatrons, whose average partisan position is:

Those copatrons are Del. Lamont Bagby (D-Richmond), Del. John Bell (D-Chantilly), Del. Mark Cole (R-Fredericksburg), Del. Steve Heretick (D-Portsmouth), Del. Charniele Herring (D-Alexandria), Del. Mark Keam (D-Vienna), Del. Kaye Kory (D-Falls Church), Del. Delores McQuinn (D-Richmond), Del. Kathleen Murphy (D-McLean), Del. Ken Plum (D-Reston), Del. Marcus Simon (D-Falls Church), Del. Rip Sullivan (D-Arlington), Sen. Jennifer Boysko (D-Herndon), Sen. Janet Howell (D-Reston), Sen. Jeremy McPike (D-Dale City), Sen. Dick Saslaw (D-Springfield)

Progress

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

Description

Corporate income tax; rate of taxation. Lowers the corporate income tax rate from six percent to 5.75 percent for taxable years beginning on or after January 1, 2017. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/09/2016Prefiled and ordered printed; offered 01/13/16 16101906D
01/09/2016Referred to Committee on Finance
01/16/2016Impact statement from TAX (HB539)
02/09/2016Assigned Finance sub: Subcommittee #1
02/10/2016Subcommittee recommends continuing to 2017
02/15/2016Continued to 2017 in Finance
12/01/2016Left in Finance

Comments

Phil Thomas writes:

Ridiculous, this would allow corporations with millions in profit to pay the exact same tax rate as an individual citizen earning just $17,000 per year. How far will these politicians go to serve their corporate masters?