Tax Type
Corporation Income Tax
Description
Clean Fuel Vehicle Credit
Topic
Credits
Date Issued
03-31-1994
March 31, 1994
Re: Request for Ruling: Corporate income taxes
Dear******************
This will reply to your letter of August 5, 1993 in which you requested a ruling regarding the clean fuel vehicle credit. I apologize for the delay in responding.
Ruling
Va. Code §58.1-438.1 allows a credit against the taxes imposed by Subtitle I of Title 58.1 of the Code of Virginia. Thus individuals and corporations may claim the credit against the income taxes imposed by Va. Code §§58.1-320 and 58.1-400, respectively. Telecommunications companies may claim the credit against the minimum tax on gross receipts imposed by Va. Code §58.1-400.1. Other public service corporations are not eligible for the credit because they are taxes under Chapter 26 of Subtitle II (§58.1-2000 et seq.) of Title 58.1 of the Code of Virginia.
Sincerely,
Danny M. Payne
Acting Tax Commissioner
OTP/7234M
Rulings of the Tax Commissioner