For corporate and personal income tax purposes, Virginia Gov. Terry McAuliffe has signed legislation extending the sunset date for the worker retraining tax credit from tax years beginning before January 1, 2018, to tax years beginning before January 1, 2022. Additionally, the legislation changes the agency responsible for certifying eligible worker retraining courses from the Department of Small Business and Supplier Diversity to the Virginia Economic Development Partnership Authority. The legislation extends the sunset date for the telework expenses tax credit from tax years beginning before January 1, 2017, to taxable years beginning before January 1, 2022. Finally, the recently enacted legislation extends the date before which an employer must enter into a telework agreement with a participating employee to January 1, 2022.
The provisions in this bill are identical to those in Ch. 177 (H.B. 1814), Laws 2017. (TAXDAY, 2017/02/28, S.27)
Ch. 454 (S.B. 1576), Laws 2017, effective July 1, 2017