VA Tax - New Cap for the Qualified Equity and Subordinated Debt Investments Tax Credit

24 May 2013 2:25 PM | Anonymous
The Qualified Equity and Subordinated Debt Investments Tax Credit is capped at $5 million annually by statute.  However, beginning with Taxable Year 2006, budget actions have imposed a lower tax credit cap for certain taxable years.  Under the budget bill for the 2012-2014 biennium (2013 House Bill 1500), the tax credit limit will be $4.5 million for Taxable Year 2013 and $5 million for Taxable Year 2014.  For taxable years after 2014, the tax credit limit will remain at the statutory cap of $5 million, unless the General Assembly takes future action to change it.  See Tax Bulletin 13-7 (P.D. 13-75) for complete information.
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