IMPLEMENTATION LEVEL

Subnational

AFFECTED FLOW

Outflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 01 Jan 2014 | Removal date: open ended
Still in force

Export tax

The Virginia General Assembly enacted legislation (S.B. 515/H.B. 280) on March 5, 2014 that will provide special state income tax treatment for exporters that form an Interest Charge-Domestic International Sales Corporation (IC-DISC). Eligible companies can recoup or exceed their tax savings on revenue from exported products (and some services) by creating an IC-DISC. For taxable years beginning on or after January 1, 2014, IC DISCs in Virginia are exempt from the Virginia corporate income tax.

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

Please report this page in case you detect an inaccuracy in its content.