Virginia Senate Bill 807 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 2 2015 - 25% progression, died in committee
Action: 2015-02-11 - Left in Finance
Pending: Senate Finance and Appropriations Committee
Text: Latest bill text (Prefiled) [HTML]

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, 2015. 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.

Income tax, corporate; lower rate for certain businesses.

Sen. William Stanley [R]

Date	Chamber	Action
2015-02-11	Senate	Left in Finance
2015-01-02	Senate	Referred to Committee on Finance
2015-01-02	Senate	Prefiled and ordered printed; offered 01/14/15 15100712D

Chapter	Article	Section	Citation Type	Statute Text
58	1	400	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?151+sum+SB807
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?151+ful+SB807+hil