Mandate 854
Mandate Information | |||
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Mandate Title:
Subtraction for Investments in a Virginia Venture Capital Account
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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.
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Legislation mandating a change | Chap 762 (2017) | ||
VAC chapters to be amended |
23 vac 10 - 110 : Individual Income Tax
23 vac 10 - 120 : Corporation Income Tax
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Associated Regulatory Actions |
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Deadline for the regulation to become effective | 12/31/2017 | ||