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2012 SESSION

• | print version

HB 149 Income tax, corporate; lower rate for certain businesses.

Introduced by: Margaret B. Ransone | 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 fewer 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 fewer, for taxable years beginning on or after January 1, 2012. 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

• 01/05/12  House: Prefiled and ordered printed; offered 01/11/12 12102553D  pdf | impact statement

HISTORY

• 01/05/12  House: Prefiled and ordered printed; offered 01/11/12 12102553D
• 01/05/12  House: Referred to Committee on Finance
• 01/12/12  House: Assigned Finance sub: Subcommittee #2
• 02/06/12  House: Continued to 2013 in Finance by voice vote