Income tax, state; creates a new tax bracket for small businesses. (SB1386)

Introduced By

Sen. Glen Sturtevant (R-Midlothian)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Rate of individual income tax; small businesses. Creates a new tax bracket for small businesses filing taxes as individuals in Virginia. The standard tax rates would be lowered one-quarter of a percent over four years, to establish tax rates of one percent for income not in excess of $3,000, two percent for income between $3,001 and $5,000, four percent for income between $5,001 and $17,000, and 4.75 percent for income over $17,000. The bill defines "small business" as a sole proprietorship or pass-through entity with 25 or fewer employees. Read the Bill »


Bill Has Failed


01/11/2017Prefiled and ordered printed; offered 01/11/17 17102966D
01/11/2017Referred to Committee on Finance
01/22/2017Impact statement from TAX (SB1386)
01/25/2017Stricken at request of Patron in Finance (16-Y 0-N) (see vote tally)