HB 290

  • Virginia House Bill
  • 2022 Regular Session
  • Introduced in House Jan 11, 2022
  • House
  • Senate
  • Governor

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

Abstract

Individual and corporate income tax credit;employers of National Guard members and self-employed National Guardmembers. Provides for taxable years 2022 through 2026 a nonrefundabletax credit against individual and corporate income taxes for (i)wages paid by an employer to an employee who is a Virginia NationalGuard member or (ii) income of a self-employed Virginia National Guardmember attributable to his business. The bill provides that the amountof the credit is 25 percent if such member was in a military paystatus for 65 days or more during the taxable year or 15 percentif such member was in a military pay status for 45 to 64 days duringthe taxable year. The credit is not allowed if such member was ina military pay status for fewer than 45 days during the taxable year.

Bill Sponsors (2)

Votes


Actions


Feb 07, 2022

House

Continued to 2023 in Finance

Feb 04, 2022

House

Subcommittee recommends continuing to 2023

Feb 01, 2022

House

Assigned Finance sub: Subcommittee #3

Jan 23, 2022

House

Impact statement from TAX (HB290)

Jan 11, 2022

House

Prefiled and ordered printed; offered 01/12/22 22100092D

House

Referred to Committee on Finance

Bill Text

Bill Text Versions Format
Prefiled and ordered printed; offered 01/12/22 22100092D PDF HTML

Related Documents

Document Format
Fiscal Impact Statement: HB290F161.PDF PDF

Sources

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