Guidance Document Information
| Title |
Updated Recyclable Materials Processing Equipment Tax Credit Guidelines |
| Document ID |
Corporate/Individual |
| Summary |
During the 2020 Session, the Virginia General Assembly enacted Senate Bill 590 (2020 Acts
of Assembly, Chapter 789), which expanded the Recyclable Materials Processing Equipment
Tax Credit by making the purchase of machinery and equipment used in advanced recycling
eligible for the credit. This legislation also advanced the sunset date for the credit. These guidelines are published by the Department to provide updated guidance to taxpayers
regarding the Recyclable Materials Processing Equipment Tax Credit for taxable years
beginning on or after January 1, 2020. |
| Effective Date |
12/16/2020 |
View document text
Posted On 12/16/2020
Document on Town Hall
|
| Explanation or Citations |
See 2020 Senate Bill 590. |
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