Income tax, state and corporate; tax credit for employers of military spouses. (SB460)
Introduced By
Sen. Bryce Reeves (R-Spotsylvania) with support from co-patrons Del. John Avoli (R-Staunton), and Sen. Mark Peake (R-Lynchburg)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Individual and corporate income tax credit; employers of military spouses. Provides for taxable years 2020 through 2024 a nonrefundable tax credit against individual and corporate income taxes for (i) wages paid by an employer to the spouse of an active member of the United States armed forces or (ii) income of a self-employed spouse of an active member of the United States armed forces. The amount of the credit shall be 25 percent of such wages or income. The bill allows a taxpayer to carry unused credits over for up to five taxable years. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/07/2020 | Referred to Committee on Finance |
01/07/2020 | Prefiled and ordered printed; offered 01/08/20 20102337D |
01/07/2020 | Referred to Committee on Finance and Appropriations |
01/08/2020 | Moved from Finance to Finance and Appropriations due to a change of the committee name |
01/26/2020 | Impact statement from TAX (SB460) |
01/29/2020 | Continued to 2021 in Finance and Appropriations (15-Y 0-N) (see vote tally) |