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2002 SESSION

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SB 309 Income tax; voluntary contribution to Art Museum of Western Virginia.

Introduced by: John S. Edwards | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Income tax; voluntary contribution of tax refund to the Art Museum of Western Virginia. Creates an additional income tax checkoff beginning January 1, 2003, and ending January 1, 2008, for individuals to contribute all or part of their income tax refunds to the Art Museum of Western Virginia. The bill also provides that the Department of Taxation may retain up to ten percent of the amount of annual contributions of individual income tax refunds, but not to exceed $75,000 for any taxable year. The amount to be retained is to pay the costs of administering the voluntary contributions program. Such amount shall be deducted on a pro-rata basis from the individual income tax refunds designated as voluntary contributions.


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