New Virginia Sales Tax Exemption Law Help Out Data Centers

Three bills were signed a couple weeks ago to help out data centers in Virginia they are:  HB216/SB112, HB1013/SB226, and HB551/SB238

In a recent article on Executive Biz “McDonnell participated in the ribbon-cutting event and signed several pieces of data center-related legislation during a Northern Virginia Technology Council event Tuesday, according to an NVTC release. The council said the HB 216 / SB 112 legislation expands the state’s current data center sales tax exemption to cover data center tenants, designed to attract jobs and investments McDonnell signed additional legislation that extends the state’s capital gains tax exemptions for technology startup investors through June 30, 2015. The exemptions were originally passed in 2010 for a three-year period. Virginia’s telework tax credit, originally passed in 2011, is also extended through Dec. 21, 2016. McDonnell said the bills are intended to make Virginia more competitive in the technology industry and create jobs for citizens.”

On “Data Center Sales Tax Exemption (House Bill 216 and Senate Bill 112) and the Extending Virginia Telework Tax Credit bill (HB 551 and SB 238). Del. Barbara Comstock (R-34th District) introduced the bill, and Del. Mark Keam (D-35th District) signed on as a chief co-patron. The bills expand the sales and use tax exemption for computer equipment or software by data centers by extending it to tenants of the centers and jobs created by them and extends the telework expenses tax credit for employers through the end of 2016; the current credit expires on Dec. 31, 2013.  The governor also signed bills (HB 1013 and SB 226), also backed by Comstock, which extends the Virginia capital gains exemption for investors in technology startups from June 2013 to June 2015.”

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