Subtraction for Investments in a Virginia Venture Capital Account
Purpose of legislation
Establish a new individual income tax and corporate income tax subtraction for certain income attributable to an investment in a Virginia venture capital account. This legislation requires that the Department of Taxation promulgate regulations prior to December 31, 2017, regarding how an investment fund is to apply for certification as a Virginia venture capital account for purposes of the subtraction.
|Legislation mandating a change||Chap 762 (2017)|
|VAC chapters to be amended|
|Associated Regulatory Actions||
|Deadline for the regulation to become effective||12/31/2017|