Income tax, corporate; reduces tax from its current rate. (HB295)

Introduced By

Del. Joe McNamara (R-Roanoke)

Progress

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

Description

Corporate income tax rate. Reduces the corporate income tax from its current rate of six percent to five percent in taxable year 2022, four percent in taxable year 2023, three percent in taxable year 2024, and two percent in taxable year 2025 and subsequent years. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/11/2022Committee
01/11/2022Prefiled and ordered printed; offered 01/12/22 22101108D
01/11/2022Referred to Committee on Finance
01/19/2022Assigned Finance sub: Subcommittee #1
01/20/2022Impact statement from TAX (HB295)
02/07/2022Subcommittee recommends laying on the table (8-Y 1-N)
02/15/2022Left in Finance

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