VA SB1704 | 2019 | Regular Session
Status
Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 15 2019 - 25% progression, died in chamber
Action: 2019-01-29 - Passed by indefinitely in Finance (15-Y 0-N)
Text: Latest bill text (Introduced) [HTML]
Status: Introduced on January 15 2019 - 25% progression, died in chamber
Action: 2019-01-29 - Passed by indefinitely in Finance (15-Y 0-N)
Text: Latest bill text (Introduced) [HTML]
Summary
Individual and corporate income tax credit; employers of National Guard members and self-employed National Guard members. Provides for taxable years 2019 through 2023 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 National Guard member attributable to his business. The amount of the credit shall be 25 percent if such member was in a military pay status for 65 days or more during such taxable year or 15 percent if such member was in a military pay status for 45 days or more during such taxable year. The credit shall not be allowed if such member was in a military pay status for less than 45 days during such taxable year. The bill allows a taxpayer to carry unused credits over for up to five taxable years.
Title
Income taxes, state and corporate; tax credit for employers of National Guard members.
Sponsors
Roll Calls
2019-01-29 - Senate - Senate: Passed by indefinitely in Finance (15-Y 0-N) (Y: 15 N: 0 NV: 0 Abs: 0) [PASS]
History
Date | Chamber | Action |
---|---|---|
2019-01-29 | Senate | Passed by indefinitely in Finance (15-Y 0-N) |
2019-01-15 | Senate | Referred to Committee on Finance |
2019-01-15 | Senate | Presented and ordered printed 19104515D |