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2013 SESSION
SB 745 Income tax, corporate; lower rate for certain businesses.
Introduced by: William M. Stanley, Jr. | 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 outside Virginia opens a satellite office in a Virginia locality with a population of 200,000 or less or after a business located in a Virginia locality with a population exceeding 200,000 opens a satellite office or operation in a Virginia locality with a population of 200,000 or less, for taxable years beginning on or after January 1, 2013. The bill provides that 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
- 12/14/12 Senate: Prefiled and ordered printed; offered 01/09/13 13100295D
- 12/14/12 Senate: Referred to Committee on Finance
- 02/06/13 Senate: Left in Finance