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1997 SESSION

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HB 2863 Income tax, state; capital gains exclusion and rollover.

Introduced by: James K. O'Brien, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY:

Capital gains exclusion and rollover. Allows exclusion from income of a percentage of capital gains if the gain is rolled over into qualified property within a 12-month period. Qualified property is real property, plants and equipment located in Virginia and firms conducting substantial business in Virginia. This exclusion is allowed only for taxable years beginning on and after January 1, 1997, but before January 1, 2002.

FULL TEXT

• 01/20/97  House: Presented & ordered printed 970941386  pdf

HISTORY

• 01/20/97  House: Presented & ordered printed 970941386
• 01/20/97  House: Referred to Committee on Finance
• 01/21/97  House: Assigned to Finance sub-committee: 1
• 02/04/97  House: No action taken by Finance by voice vote