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2012 SESSION
SB 61 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 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
HISTORY
- 01/05/12 Senate: Prefiled and ordered printed; offered 01/11/12 12100753D
- 01/05/12 Senate: Referred to Committee on Finance
- 02/08/12 Senate: Continued to 2013 in Finance (15-Y 0-N)