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HB2608

Income taxes, state and corporate; tax credit for employers of National Guard members.

Status:
Killed

Chief Patron:
Nick Freitas (R)

Session:
2019 Regular Session

Summary

As Introduced. 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. (Less)

  • Bill History

  • 01/09/2019 - House: Presented and ordered printed 19104148D
  • 01/09/2019 - House: Referred to Committee on Finance
  • 01/18/2019 - House: Assigned Finance sub: Subcommittee #1
  • 01/22/2019 - House: Impact statement from TAX (HB2608)
  • 01/23/2019 - House: Subcommittee recommends reporting with amendments (7-Y 1-N)
  • 01/30/2019 - House: Reported from Finance with amendments (19-Y 0-N)
  • 01/30/2019 - House: Referred to Committee on Appropriations
  • 02/05/2019 - House: Left in Appropriations

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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