Income tax, corporate; subtraction for amount of business interest. (SB1697)

Introduced By

Sen. Ben Chafin (R-Lebanon) with support from co-patron Sen. Bill Carrico (R-Grayson)

Progress

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

Description

Corporate income tax subtraction; business interest. Establishes a subtraction from a corporation's Virginia taxable income for the amount of business interest that is disallowed as a deduction from federal taxable income by § 163(j) of the Internal Revenue Code. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/14/2019Presented and ordered printed 19104389D
01/14/2019Referred to Committee on Finance
01/22/2019Impact statement from TAX (SB1697)
01/30/2019Passed by indefinitely in Finance (16-Y 0-N) (see vote tally)

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