Changes to the International Trade Facility Tax Credit and the Barge and Rail Usage Tax Credit
During the 2012 Session, the Virginia General Assembly passed legislation (House Bill 1183 and Senate Bill 578) that made several changes to the International Trade Facility Tax Credit and the Barge and Rail Usage Tax Credit. The Department of Taxation has updated the guidelines for the Barge and Rail Usage Tax Credit and the International Trade Facility Tax Credit to reflect these changes. The updated guidelines are available on the Tax Department’s Port Tax Credit Guidelines website (http://www.tax.virginia.gov/site.cfm?alias=PortTax) and have been posted in the Laws, Rules & Decisions section of the Department’s website as Public Document 12-204 (http://www.policylibrary.tax.virginia.gov/OTP/Policy.nsf/ccd0d2ea93db9ba485256968006a39ed/8ff2e7e1942a4e4385257ad0005002cc?OpenDocument) and Public Document 12-205 (http://www.policylibrary.tax.virginia.gov/OTP/Policy.nsf/ccd0d2ea93db9ba485256968006a39ed/9a490be644bb47a085257ad00051f5c4?OpenDocument).
If you have any questions, please contact Kristin Collins, Tax Policy Analyst, Virginia Department of Taxation at (804) 371-2341.