RD787 - Expiring Port Tax Credits – November 15, 2024
Executive Summary: Report on the tax credits set forth in Code of Virginia §§ 58.1-439.12:06, 58.1-439.12:09, and 58.1-439.12:10. Such report shall include (i) the number of persons, corporations, or other classes of taxpayers claiming the credit in each of the immediately preceding five years; (ii) the aggregate amount of credits claimed in each of the preceding five years by each class of taxpayers; (iii) the average amount of the credit claimed by each class of taxpayers in each of the preceding five years; (iv) the average amount of taxes paid, after claiming any credits or deductions, by each class of taxpayers claiming the tax credit in each of the preceding five years; (v) any noted trends in the use of the tax credit; and (vi) any other information deemed relevant by the Department of Taxation. |