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Letter on the Worker Training Tax Credit — Department of Taxation (September 21, 2022)

Summary

This is a September 21, 2022 letter from the Commonwealth of Virginia Department of Taxation to The Honorable Janet D. Howell, Chairwoman, Senate Finance and Appropriations Committee, and The Honorable Roxann Robinson, Chairwoman, House Finance Committee. It states that the Department is required to report annually on the status and implementation of the Worker Training Tax Credit, created by 2019 House Bill 2539 for businesses that provide certain training opportunities to employees and middle school and high school students in Virginia. It says qualifying taxpayers may apply for credits by submitting Form WTC. During Fiscal Year 2021, the credit was claimed on four individual and corporate income tax returns in a total amount of $121,285.

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“Letter on the Worker Training Tax Credit — Department of Taxation (September 21, 2022).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2022-rd471-0e47819135/, SHA-256 e87d973154824ddc660fc1f258f8d19ead453dd0570199390fd5dbbbf520def1.

Full text

                 COMMONWEALTH of VIRGINIA
                                  Departmer,t of Taxation

                                     September 21, 2022

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

       The Honorable Roxann Robinson
       Chairwoman, House Finance Committee

Dear Chairwoman Howell and Chairwoman Robinson:

       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.

        2019 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.

                                          rely,


                                         lvl
                                     r g M. Burns
                                      x Commissioner


C: The Honorable Stephen E. Cummings, Secretary of Finance

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