States / Virginia / HB 504

HB 504 In Committee

Income tax, state; tax credit for certain small businesses.

Introduced
In Committee
Floor
Crossed Over
Passed
Enacted

Income tax; tax credit for certain small businesses. Establishes a one-time, nonrefundable tax credit for taxable years 2026 through 2030 for eligible small businesses, as defined in the bill, equal to $2,500. The bill limits the total aggregate amount of small business credits claimed to $5 million per taxable year.

Chamber
House
Introduced
Jan 12, 2026
Last action
Jul 21, 2026 — Continued from last session
Session
2027
Momentum
37 · Low