Virginia Tax Credits for Individual and Corporate Taxpayers

Virginia Tax Credits for Individual and Corporate Taxpayers

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By Terry Barrett, CPA, Tax Senior Manager | State and Local Tax Team Leader

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

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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Expired or Repealed Tax Credits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

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The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.


About the Author

Terry Barrett specializes in state and local tax concerns for her clients. She has over 30 years of experience working in the public and private accounting sector. She is a graduate of Virginia Commonwealth University. You can read more of Terry’s state and local tax insights here.

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