Income tax, state and corporate; tax credit for employers of National Guard members. (HB290)
Introduced By
Del. Nick Freitas (R-Culpeper) with support from co-patron Del. Clinton Jenkins (D-Suffolk)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Individual and corporate income tax credit; employers of National Guard members and self-employed National Guard members. Provides for taxable years 2022 through 2026 a nonrefundable tax credit against individual and corporate income taxes for (i) wages paid by an employer to an employee who is a Virginia National Guard member or (ii) income of a self-employed Virginia National Guard member attributable to his business. The bill provides that the amount of the credit is 25 percent if such member was in a military pay status for 65 days or more during the taxable year or 15 percent if such member was in a military pay status for 45 to 64 days during the taxable year. The credit is not allowed if such member was in a military pay status for fewer than 45 days during the taxable year. Read the Bill »
Status
02/01/2022: Awaiting a Vote in the Finance Committee
History
Date | Action |
---|---|
01/11/2022 | Committee |
01/11/2022 | Prefiled and ordered printed; offered 01/12/22 22100092D |
01/11/2022 | Referred to Committee on Finance |
01/20/2022 | Assigned Finance sub: Subcommittee #1 |
01/23/2022 | Impact statement from TAX (HB290) |
02/01/2022 | Assigned Finance sub: Subcommittee #3 |
02/04/2022 | Subcommittee recommends continuing to 2023 |
02/07/2022 | Continued to 2023 in Finance |
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