§ 58.1-439.3. Qualifying steam producers tax credit
For tax years beginning on and after January 1, 1996, but before January 1, 2001, a steam producer shall be allowed a credit against the tax imposed by § 58.1-400 in the amount of three dollars per ton for each ton of coal mined in Virginia purchased by such steam producer. "Steam producer" means a person who sells steam energy to a manufacturing company in the Commonwealth or uses steam to produce manufactured goods. In order to receive the credit under this section, the steam producer shall include a certification from the coal producer that the coal was mined in Virginia. In no event shall the credit allowed hereunder exceed the total amount of tax liability of such steam producer. Any tax credit not usable for the taxable year may be carried over to the extent usable for the next five succeeding tax years or until the full credit is used, whichever is sooner.
(1995, c. 775.)
Sections: Previous 58.1-436 58.1-437 58.1-438 58.1-438.1 58.1-439 58.1-439.1 58.1-439.2 58.1-439.3 58.1-439.4 58.1-439.5 58.1-439.6 58.1-439.7 58.1-439.8 58.1-439.9 58.1-439.10 NextLast modified: April 16, 2009