Virginia Tax Credits for Individual and Corporate Taxpayers

*Please note that this article was written in 2019 and some of the information may be outdated. You should confirm the details of the specific credits on the Virginia Department of Taxation’s website.

Now that it’s tax season, it’s time to think about potential credits that may reduce your Virginia tax liabilities. We have included a listing of Virginia tax credits available to individual or corporate taxpayers with a brief explanation of each credit. It is important to note that many of the credits may not be claimed on a tax return until a taxpayer has submitted an application and been notified in writing that they are allowed to claim the credit.  There are specific due dates to submit applications, most without extension, so please pay close attention and reference the Department of Taxation’s website for additional information and requirements for claiming the credits.

Virginia Tax Credits

Agricultural Tax Credits

Business Development Tax Credits

Coal Industry and Education Tax Credits

Environmental Tax Credits

Housing and Community Development Tax Credits

Individual and Misc. Tax Credits

Ports and Trade Tax Credits

Expired or Repealed Tax Credits

Questions on whether you or your business qualify for Virginia Tax Credits? Contact us. We can help. Keiter Representative | Email | 804.747.0000

Additional Resources:

• Virginia Department of Taxation – Tax Credit Details and Deadlines
• Investing in Virginia Businesses? Learn About the Tax Benefits.
• Top Seven State and Local Tax Issues to Consider for 2019
• What you need to know about Neighborhood Assistance Program (NAP) Credit Benefits
• New Tax Benefits for Qualified Opportunity Zone (QOZ) Investments