Virginia House Bill 504: Income tax, state; tax credit for certain small businesses.

Virginia · 2026 Regular Session

What it does

Income tax; tax credit for certain small businesses. Establishes a one-time, nonrefundable tax credit for taxable years 2026 through 2030 for eligible small businesses, as defined in the bill, equal to $2,500. The bill limits the total aggregate amount of small business credits claimed to $5 million per taxable year.

Latest action

Continued to next session in Finance (Voice Vote) (2026-02-11)

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