VA SB61 | 2012 | Regular Session
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 5 2012 - 25% progression, died in chamber
Action: 2012-02-08 - Senate: Continued to 2013 in Finance (15-Y 0-N)
Text: Latest bill text (Prefiled) [HTML]
Status: Introduced on January 5 2012 - 25% progression, died in chamber
Action: 2012-02-08 - Senate: Continued to 2013 in Finance (15-Y 0-N)
Text: Latest bill text (Prefiled) [HTML]
Summary
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.
Title
Income tax, corporate; lower rate for certain businesses.
Sponsors
Roll Calls
2012-02-08 - Senate - Senate: Continued to 2013 in Finance (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2012-02-08 | Senate: Continued to 2013 in Finance (15-Y 0-N) | |
2012-01-05 | Senate: Referred to Committee on Finance | |
2012-01-05 | Senate: Prefiled and ordered printed; offered 01/11/12 12100753D |