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]

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.

Tracking Information

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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

DateChamberAction
2019-01-29SenatePassed by indefinitely in Finance (15-Y 0-N)
2019-01-15SenateReferred to Committee on Finance
2019-01-15SenatePresented and ordered printed 19104515D

Code Citations

ChapterArticleSectionCitation TypeStatute Text
581339.13(n/a)See Bill Text

Virginia State Sources


Bill Comments

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