Income tax, corporate; lowers tax rate to 2.5 percent. (SB835)
Introduced By
Sen. Amanda Chase (R-Midlothian)
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 2.5 percent, effective January 1, 2017. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
11/15/2016 | Prefiled and ordered printed; offered 01/11/17 17100371D |
11/15/2016 | Referred to Committee on Finance |
01/14/2017 | Impact statement from TAX (SB835) |
01/24/2017 | Passed by indefinitely in Finance (15-Y 1-N) (see vote tally) |
Comments
This is absurd. Why should corporations pay a lower income tax rate than hard working citizens? How does this senator propose funding the state budget?
Lowering the corporate tax rate will potentially make Virginia more desirable for business, and therefore increase employment opportunities, which in turn could possibly reduce need/demand in the form of some entitlement programs and ultimately increase wages and reduce tax rates on working citizens.
Va ranked 13th ,we used to be #1
Ditch the bpol tax
Why not ditch the bpol tax?
The governor ran on it.