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Department of Taxation: Status and Implementation of the Worker Training Tax Credit (2023)

Summary

Letter from the Commonwealth of Virginia Department of Taxation to the co-chairs of the Senate Finance and Appropriations Committee and the chair of the House Finance Committee, with a copy to the Secretary of Finance. It is the annual report on the Worker Training Tax Credit required of the Department under House Bill 2539. The letter states that the bill created a tax credit for businesses that provide certain training opportunities to employees and to middle school and high school students, effective for taxable years beginning on or after January 1, 2019. It reports that during Fiscal Year 2022 the credit was claimed on six individual and corporate income tax returns for a total amount of $7,738.

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“Department of Taxation: Status and Implementation of the Worker Training Tax Credit (2023).” Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2023-rd450-26e3c90cf6/, SHA-256 1a8ae987233320f8910c6506af8f2d51099e111f04e9541f25847b3e94bf051c.

Full text

                  COMMONWEALTH of VIRGINIA
                                   Department of Taxation

                                        October I , 2023

TO:           The Honorable Janet D. Howell
              Co-Chair, Senate Finance and Appropriations Committee

              The Honorable George L. Barker
              Co-Chair, Senate Finance and Appropriations Committee

              The Honorable Roxann L. Robinson
              Chair, House Finance Committee

FROM:         CraigM. Bum
              Tax Commiss1 e

Pursuant to 2019 House Bill 2539 (Chapter 189 of the 2019 Acts ofAssembly), 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. 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 2022, the Worker Training Tax Credit was claimed on six individual and
corporate income tax returns for a total amount of $7,738. This reflects income tax returns
processed during Fiscal Year 2022 and does not include returns filed or processed on or after
July I, 2022.



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

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