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2023 SESSION
HB 290 Income tax, state and corporate; tax credit for employers of National Guard members.
Introduced by: Nicholas J. Freitas | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Individual and corporate income tax credit; employers of National Guard members and self-employed National Guard members. Provides for taxable years 2022 through 2026 a nonrefundable tax credit against individual and corporate income taxes for (i) wages paid by an employer to an employee who is a Virginia National Guard member or (ii) income of a self-employed Virginia National Guard member attributable to his business. The bill provides that the amount of the credit is 25 percent if such member was in a military pay status for 65 days or more during the taxable year or 15 percent if such member was in a military pay status for 45 to 64 days during the taxable year. The credit is not allowed if such member was in a military pay status for fewer than 45 days during the taxable year.
FULL TEXT
HISTORY
- 01/11/22 House: Prefiled and ordered printed; offered 01/12/22 22100092D
- 01/11/22 House: Referred to Committee on Finance
- 02/01/22 House: Assigned Finance sub: Subcommittee #3
- 02/04/22 House: Subcommittee recommends continuing to 2023 by voice vote
- 02/07/22 House: Continued to 2023 in Finance by voice vote
- 11/22/22 House: Left in Finance