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2000 SESSION
HB 798 Income tax; subtractions for tobacco farmers from settlement funds.
Introduced by: Frank M. Ruff | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Income tax; subtractions for income received by tobacco farmers from tobacco settlement funds. Provides a subtraction from federal adjusted gross income for individuals, and from federal taxable income for corporations, when calculating Virginia taxable income for any amounts received by tobacco farmers or tobacco farming businesses from tobacco settlement funds. This subtraction will be allowed for taxable years beginning on and after January 1, 1999. The bill declares that an emergency exists and that it is effective upon passage.
FULL TEXT
HISTORY
- 01/21/00 House: Presented & ordered printed w/emg. clause 003182920
- 01/21/00 House: Referred to Committee on Finance
- 01/24/00 House: Assigned to Finance sub-committee: 2
- 02/06/00 House: Stricken from docket by Finance (23-Y 0-N)