SEARCH SITE

Search FAQs

VIRGINIA LAW PORTAL

SEARCHABLE DATABASES

ACROSS SESSIONS

Developed and maintained by the Division of Legislative Automated Systems.

2010 SESSION

  • | print version

HB 1359 Income tax, corporate; tax credit for investments in machinery or equipment by small businesses.

Introduced by: Mark L. Keam | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; Small business investment tax credit.  Establishes a tax credit for investments in machinery or equipment by small businesses. The credit would equal 20 percent of investment amount. The Department of Taxation would administer the tax credits. Taxpayers would not be allowed more than $10,000 in tax credit for any taxable year in which an incremental investment in machinery or equipment was made. Any unused tax credit would be allowed to be carried forward for five taxable years. The credit would be effective for taxable years 2010, 2011, and 2012.


FULL TEXT

HISTORY