Virginia Regulatory Town Hall
Department of Taxation
Guidance Document Information
Title Major Research and Development Expenses Tax Credit Guidelines
Document ID Corporate/Individual
Summary During the 2016 Session, the General Assembly enacted House Bill 884 (2016 Acts of Assembly, Chapter 661) and Senate Bill 58 (2016 Acts of Assembly, Chapter 300), which established the Major Research and Development Expenses Tax Credit. This is an individual and corporate income tax credit for certain taxpayers that incur Virginia qualified research and development expenses in excess of $5 million during a taxable year.
Effective Date 5/3/2017
pdf View document text     Posted On 12/14/2017                 Document on Town Hall
Explanation or Citations Va. Code ยง 58.1-439.12:11

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