Businesses
Government-funded
Varies
Amount varies
Tax Credit
Reduces tax liability
Rolling
No fixed cutoff
Annual tax return
Claim with year-end filing
Moderate
File with tax return
Virginia provides a tax credit of up to $1,000 per employee for businesses engaged in coal extraction or coal-related processing in Virginia's coalfield counties, supporting economic activity in Southwest Virginia.
Do I qualify?
Answer the questions below for a rules-based self-assessment of your fit for this program. This is informational — final determinations are made by the administering agency.
1.Must be engaged in coal extraction or processing in Virginia
2.Employment in a designated coalfield county
3.Credit of $1,000 per coal-industry employee
4.Must file Virginia corporation income or individual income tax
5.Credit can be used to offset tax liability
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Income tax credits for Virginia businesses establishing or expanding a major business facility and creating at least 50 new jobs, with a $1,000 per qualifying job credit available over 2 years.
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