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2011 SESSION

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HB 2390 Income tax, state; exemption for certain small businesses.

Introduced by: Albert C. Pollard, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; exemption for certain small businesses.  Exempts certain small businesses from individual and corporate income tax for the first two years the business operates or until it produces $300,000 in gross income, whichever occurs first. A small business is defined as a business located in Virginia that is independently owned or operated by U.S. citizens or noncitizens in full compliance with U.S. immigration law and that has 250 or fewer employees.

FULL TEXT

• 01/14/11  House: Presented and ordered printed 11100832D  pdf | impact statement

HISTORY

• 01/14/11  House: Presented and ordered printed 11100832D
• 01/14/11  House: Referred to Committee on Finance
• 01/19/11  House: Assigned Finance sub: #1
• 01/31/11  House: Subcommittee recommends passing by indefinitely by voice vote
• 02/08/11  House: Left in Finance