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SB 696 VA
Introduced

Income tax, corporate; reduction of rate.

VA · session 2026 · Senate · bill

A state bill is a proposed law in a state legislature — separate from the U.S. Congress. Learn more →

Introduced Jan 14, 2026

Latest action (Jan 28, 2026) Passed by indefinitely in Finance and Appropriations (9-Y 4-N)

Summary

Corporate income tax rate; reduction. Reduces the corporate income tax rate by 1.25 percent each taxable year from the current six percent rate until the rate equals 2.25 percent for taxable year 2028 and thereafter.

Sponsor (1)

Action history (4)
  1. Jan 14, 2026 Prefiled and ordered printed; Offered 01-14-2026 26103137D · upper
  2. Jan 14, 2026 Referred to Committee on Finance and Appropriations · upper
  3. Jan 26, 2026 Fiscal Impact statement From TAX (1/26/2026 10:52 am) · upper
  4. Jan 28, 2026 Passed by indefinitely in Finance and Appropriations (9-Y 4-N) · upper

Text versions (2)

The published texts of this bill as it moves through the legislature. Each links to the official document on the state legislature site. Data from OpenStates.

  • Introduced · PDF
  • Introduced · HTML

Full text

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