Pandemic Darlings The pandemic economy, in original documents
Home Source documents Worker Training Tax Credit, Department of Taxation (June 21, 2022)

Worker Training Tax Credit, Department of Taxation (June 21, 2022)

Summary

A letter dated June 21, 2022 from the Department of Taxation to Janet D. Howell, Chairwoman of the Senate Finance and Appropriations Committee, and Vivian E. Watts, Chairwoman of the House Finance Committee, reporting under 2019 House Bill 2539 on the Worker Training Tax Credit. It states that the bill created a tax credit for businesses that provide certain training opportunities to employees and middle school and high school students, effective for taxable years beginning on or after January 1, 2019. It states that during Fiscal Year 2021 the credit was claimed on four individual and corporate income tax returns in a total amount of $121,285.

Summary drafted by a model from the document's text below and checked by script against that text before publication. It is a navigation aid, not a reading of what the document proves. Where AI is used

Cite this document

“Worker Training Tax Credit, Department of Taxation (June 21, 2022).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-rd264-3bb75ec870/, SHA-256 56808499a1335c33dba5df5f3c4c4e8d879358d85d76f80e2b3a3c89b0f082f6.

Full text

                COMMONWEALTH of VIRGINIA
                                 Departme11t of Taxatio11

                                      June 21, 2022


To:    The Honorable Janet D. Howell
       Chairwoman, Senate Finance and Appropriations Committee

       The Honorable Vivian E. Watts
       Chairwoman, House Finance Committee


       Pursuant to 2019 House Bill 2539 (Chapter 189 of the 2019 Acts of Assembly), the
Department of Taxation ("the Department") is required to report annually regarding the
status and implementation of the Worker Training Tax Credit.

        House Bill 2539 created a tax credit for businesses that provide certain training
opportunities to employees and middle school and high school students in Virginia. This
credit became effective for taxable years beginning on or after January 1, 2019. The
Department of Taxation has fully implemented this credit program by making updates to its
systems and forms. Qualifying taxpayers may apply for credits by submitting Form WTC.
Once credits have been approved, qualifying taxpayers may claim such credits on their
Virginia income tax returns.

        During Fiscal Year 2021, the Worker Training Tax Credit claimed on four individual
and corporate income tax returns in a total amount of $121,285. This reflects income tax
returns processed during.Fiscal Year 2021 and does not include returns filed or processed
after July 1, 2021.

       Please contact me if you have any questions.

File and source

File
2022-RD264.pdf
Size
100,560 bytes
SHA-256
56808499a1335c33dba5df5f3c4c4e8d879358d85d76f80e2b3a3c89b0f082f6
Our copy
2022-RD264.pdf
Original
No public link identified.
Back to top