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2016 SESSION

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HB 110 Income tax, state; deductions for H-1B visa employees.

Introduced by: Mark L. Cole | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Income tax; deductions for H-1B visa employees. Requires that corporations and individuals add back to income subject to tax any deduction or subtraction claimed for the taxable year by the corporation or individual for wages, salaries, and other benefits paid or incurred on behalf of employees employed pursuant to an H-1B visa granted by U.S. Citizenship and Immigration Services.

In addition, in the case of a pass-through entity owned by an individual or corporation, there will also be added to income an amount that is (i) equal to a proportional amount of such wages, salaries, and other benefits paid or incurred by the pass-through entity based on the individual's or corporation's ownership share or interest in the pass-through entity or (ii) in accordance with a written agreement of the owners of the pass-through entity, provided that the aggregate amount of such wages, salaries, and other benefits deducted or subtracted for the taxable year by the pass-through entity is added back to income for Virginia income tax purposes.


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