Virginia Telework Corporate Tax Credit

Effective 07/01/2012 and applicable to tax years beginning on or after 01/01/2012, HB 551extends the telework expenses credit through tax years beginning before January 1, 2017. Prior to this legislation, the credit was scheduled to apply through tax years beginning before January 1, 2014. The legislation also clarifies that an employer is ineligible for the telework expenses credit if the employer claims another income tax credit based on jobs, wages, or other expenses for the same employee. Prior to this legislation, an employer was ineligible for this credit if any other income tax credit was claimed.