Intangible personal property; classification and exemption of certain business property. (HB2440)

Introduced By

Del. Ronnie Campbell (R-Raphine) with support from co-patron Del. Glenn Davis (R-Virginia Beach)

Progress

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

Description

Intangible personal property; classification and exemption of certain business property. Classifies as intangible property, and exempts from taxation, personal property that is employed in a trade or business, has an original cost of less than $25, and is not classified as machinery and tools, merchants' capital, or short-term rental property. Amends § 58.1-1101, § 58.1-1103, of the Code of Virginia. Read the Bill »

Status

01/18/2019: Awaiting a Vote in the Finance Committee

History

DateAction
01/08/2019Committee
01/08/2019Prefiled and ordered printed; offered 01/09/19 19100585D
01/08/2019Referred to Committee on Finance
01/18/2019Assigned Finance sub: Subcommittee #2
01/18/2019Impact statement from DHCD/CLG (HB2440)
01/19/2019Impact statement from TAX (HB2440)

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