Legislation aims to help manufacturers
- January 29, 2008
by Jessica Sabbath
Del. Kathy Byron, R-Campbell, has introduced legislation that would alter the corporate income tax for manufacturers in Virginia.
The bill would give manufacturers the option to have their tax based on sales in Virginia. Currently the corporate income tax is based on a combination of sales, property and size of payroll. The bill would benefit manufacturers who own a lot of property and employ many workers.
The bill is being supported by the Virginia Manufacturers Association.