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2022 SESSION

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SB 288 Income tax, state and corporate; deductions for business interest.

Introduced by: Adam P. Ebbin | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Virginia taxable income; corporations; deductions; business interest. Increases from 20 percent to 30 percent the Virginia individual and corporate income tax deduction for business interest disallowed as a deduction under § 163(j) of the Internal Revenue Code for taxable years beginning on and after January 1, 2022. This bill is identical to HB 1006.


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