Virginia Senate Bill 696: Income tax, corporate; reduction of rate.

Virginia · 2026 Regular Session

What it does

Corporate income tax rate; reduction. Reduces the corporate income tax rate by 1.25 percent each taxable year from the current six percent rate until the rate equals 2.25 percent for taxable year 2028 and thereafter.

Latest action

Passed by indefinitely in Finance and Appropriations (9-Y 4-N) (2026-01-28)

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