SEARCH SITE
VIRGINIA LAW PORTAL
- Code of Virginia
- Virginia Administrative Code
- Constitution of Virginia
- Charters
- Authorities
- Compacts
- Uncodified Acts
- RIS Users (account required)
SEARCHABLE DATABASES
- Bills & Resolutions
session legislation - Bill Summaries
session summaries - Reports to the General Assembly
House and Senate documents - Legislative Liaisons
State agency contacts
ACROSS SESSIONS
- Subject Index: Since 1995
- Bills & Resolutions: Since 1994
- Summaries: Since 1994
Developed and maintained by the Division of Legislative Automated Systems.
2011 SESSION
SB 998 Income tax, corporate; lower rate for certain businesses.
Introduced by: Richard H. Stuart | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Corporate income tax; lower rate for certain businesses. Reduces the corporate income tax rate from six percent to three percent for the first three years after a business located (i) outside Virginia opens an office in a Virginia locality with population of 200,000 or fewer individuals and (ii) in a Virginia locality with a population exceeding 200,000 people opens a satellite office or operation in a Virginia locality with a population of 200,000 or fewer, for taxable years beginning on or after January 1, 2011. The capital investment made by the corporation must be $250,000 or more and the tax reduction may not exceed the amount of that capital investment.
FULL TEXT
HISTORY
- 01/11/11 Senate: Prefiled and ordered printed; offered 01/12/11 11103400D
- 01/11/11 Senate: Referred to Committee on Finance
- 01/25/11 Senate: Reported from Finance (8-Y 6-N)
- 01/26/11 Senate: Constitutional reading dispensed (38-Y 0-N)
- 01/27/11 Senate: Read second time and engrossed
- 01/28/11 Senate: Passed by for the day
- 01/31/11 Senate: Read third time and passed Senate (29-Y 9-N)
- 01/31/11 Senate: Reconsideration of passage agreed to by Senate (39-Y 0-N)
- 01/31/11 Senate: Passed Senate (30-Y 9-N)
- 02/07/11 House: Placed on Calendar
- 02/07/11 House: Read first time
- 02/07/11 House: Referred to Committee on Finance
- 02/08/11 House: Assigned Finance sub: #1
- 02/10/11 House: Subcommittee recommends passing by indefinitely by voice vote
- 02/22/11 House: Left in Finance