Income tax, corporate; lowers tax rate to 2.5 percent. (SB835)

Introduced By

Sen. Amanda Chase (R-Midlothian)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


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 »


Bill Has Failed


11/15/2016Prefiled and ordered printed; offered 01/11/17 17100371D
11/15/2016Referred to Committee on Finance
01/14/2017Impact statement from TAX (SB835)
01/24/2017Passed by indefinitely in Finance (15-Y 1-N) (see vote tally)


Phil Thomas writes:

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?

Susana Thomas writes:

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.

Bill writes:

Va ranked 13th ,we used to be #1
Ditch the bpol tax

Bill writes:

Why not ditch the bpol tax?
The governor ran on it.