{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-439.12_09.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-439.12_09.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-439.12_09.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-439.12_09.html"}],"law_id":54175,"edition_id":1,"section_id":54175,"structure_id":13153,"section_number":"58.1-439.12:09","catch_line":"Barge and rail usage tax credit","history":"2011, cc. 820, 861; 2012, cc. 846, 849; 2014, c. 423; 2016, c. 69; 2021, Sp. Sess. I, c. 373.","full_text":"A\n\nAs used in this section:\n\t\t\t“International trade facility” means a company that:1\n\nIs doing business in the Commonwealth and engaged in port-related activities, including but not limited to warehousing, distribution, freight forwarding and handling, and goods processing;2\n\nHas the sole discretion and authority to move cargo originating or terminating in the Commonwealth;3\n\nUses maritime port facilities located in the Commonwealth; and4\n\nUses barges and rail systems to move cargo through port facilities in the Commonwealth rather than trucks or other motor vehicles on the Commonwealth’s highways.B\n\nFor taxable years beginning on and after January 1, 2011, but before January 1, 2025, a company that is an international trade facility shall be allowed a credit against the taxes imposed by Articles 2 (§ 58.1-320 et seq.), 6 (§ 58.1-360 et seq.), and 10 (§ 58.1-400 et seq.); Chapter 12 (§ 58.1-1200 et seq.); Article 1 (§ 58.1-2500 et seq.) of Chapter 25; or Article 2 (§ 58.1-2620 et seq.) of Chapter 26. The amount of the credit shall be $25 per 20-foot equivalent unit (TEU), 16 tons of noncontainerized cargo, or one unit of roll-on\/roll-off cargo moved by barge or rail rather than by trucks or other motor vehicles on the Commonwealth’s highways.C\n\nThe Tax Commissioner shall issue tax credits under this section, and in no case shall the Tax Commissioner issue more than $500,000 in tax credits pursuant to this section in any fiscal year of the Commonwealth. In addition, the Tax Commissioner shall not issue tax credits under this section subsequent to the Commonwealth’s fiscal year ending on June 30, 2025. The international trade facility shall not be allowed to claim any tax credit under this section unless it has applied to the Department for the tax credit and the Department has approved the credit. The Department shall determine the credit amount allowable for the year and shall provide a written certification to the international trade facility, which certification shall report the amount of the tax credit approved by the Department. The international trade facility shall attach the certification to the applicable tax return.D\n\nFor purposes of this section, the amount of any credit attributable to a partnership, electing small business corporation (S corporation), or limited liability company shall be allocated to the individual partners, shareholders, or members, respectively, in proportion to their ownership or interest in such business entities.E\n\nAny credit not usable for the taxable year may be carried over for the next five taxable years or until such credit is fully taken, whichever occurs first. The amount of the credit allowed pursuant to this section shall not exceed the tax imposed for such taxable year. No credit shall be carried back to a preceding taxable year. If a taxpayer that is subject to the tax limitation imposed pursuant to this subsection is allowed another credit pursuant to any other section of this Code or has a credit carryover from a preceding taxable year, such taxpayer shall be considered to have first utilized any credit allowed that does not have a carryover provision, and then any credit that is carried forward from a preceding taxable year, before using any credit allowed pursuant to this section.F\n\nNotwithstanding the provisions of § 58.1-3, the Department of Taxation shall annually provide information to the Virginia Port Authority related to tax credits issued pursuant to this section.G\n\nThe Tax Commissioner shall issue guidelines that are necessary and desirable to carry out the provisions of this section, including (i) the computation and carryover of the credits provided under this section and (ii) the establishment of criteria for international trade facilities. Such guidelines shall be exempt from the Administrative Process Act (§ 2.2-4000 et seq.).","order_by":null,"text":{"0":{"id":198827,"text":"As used in this section:\n\t\t\t“International trade facility” means a company that:","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"A1"},"1":{"id":198828,"text":"Is doing business in the Commonwealth and engaged in port-related activities, including but not limited to warehousing, distribution, freight forwarding and handling, and goods processing;","type":"section","prefixes":["A","1"],"prefix":"1","entire_prefix":"A1","prefix_anchor":"A1","level":2,"prior_prefix":"A","next_prefix":"A2"},"2":{"id":198829,"text":"Has the sole discretion and authority to move cargo originating or terminating in the Commonwealth;","type":"section","prefixes":["A","2"],"prefix":"2","entire_prefix":"A2","prefix_anchor":"A2","level":2,"prior_prefix":"A1","next_prefix":"A3"},"3":{"id":198830,"text":"Uses maritime port facilities located in the Commonwealth; and","type":"section","prefixes":["A","3"],"prefix":"3","entire_prefix":"A3","prefix_anchor":"A3","level":2,"prior_prefix":"A2","next_prefix":"A4"},"4":{"id":198831,"text":"Uses barges and rail systems to move cargo through port facilities in the Commonwealth rather than trucks or other motor vehicles on the Commonwealth’s highways.","type":"section","prefixes":["A","4"],"prefix":"4","entire_prefix":"A4","prefix_anchor":"A4","level":2,"prior_prefix":"A3","next_prefix":"B"},"5":{"id":198832,"text":"For taxable years beginning on and after January 1, 2011, but before January 1, 2025, a company that is an international trade facility shall be allowed a credit against the taxes imposed by Articles 2 (§ 58.1-320 et seq.), 6 (§ 58.1-360 et seq.), and 10 (§ 58.1-400 et seq.); Chapter 12 (§ 58.1-1200 et seq.); Article 1 (§ 58.1-2500 et seq.) of Chapter 25; or Article 2 (§ 58.1-2620 et seq.) of Chapter 26. The amount of the credit shall be $25 per 20-foot equivalent unit (TEU), 16 tons of noncontainerized cargo, or one unit of roll-on\/roll-off cargo moved by barge or rail rather than by trucks or other motor vehicles on the Commonwealth’s highways.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A4","next_prefix":"C"},"6":{"id":198833,"text":"The Tax Commissioner shall issue tax credits under this section, and in no case shall the Tax Commissioner issue more than $500,000 in tax credits pursuant to this section in any fiscal year of the Commonwealth. In addition, the Tax Commissioner shall not issue tax credits under this section subsequent to the Commonwealth’s fiscal year ending on June 30, 2025. The international trade facility shall not be allowed to claim any tax credit under this section unless it has applied to the Department for the tax credit and the Department has approved the credit. The Department shall determine the credit amount allowable for the year and shall provide a written certification to the international trade facility, which certification shall report the amount of the tax credit approved by the Department. The international trade facility shall attach the certification to the applicable tax return.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"7":{"id":198834,"text":"For purposes of this section, the amount of any credit attributable to a partnership, electing small business corporation (S corporation), or limited liability company shall be allocated to the individual partners, shareholders, or members, respectively, in proportion to their ownership or interest in such business entities.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C","next_prefix":"E"},"8":{"id":198835,"text":"Any credit not usable for the taxable year may be carried over for the next five taxable years or until such credit is fully taken, whichever occurs first. The amount of the credit allowed pursuant to this section shall not exceed the tax imposed for such taxable year. No credit shall be carried back to a preceding taxable year. If a taxpayer that is subject to the tax limitation imposed pursuant to this subsection is allowed another credit pursuant to any other section of this Code or has a credit carryover from a preceding taxable year, such taxpayer shall be considered to have first utilized any credit allowed that does not have a carryover provision, and then any credit that is carried forward from a preceding taxable year, before using any credit allowed pursuant to this section.","type":"section","prefixes":["E"],"prefix":"E","entire_prefix":"E","prefix_anchor":"E","level":1,"prior_prefix":"D","next_prefix":"F"},"9":{"id":198836,"text":"Notwithstanding the provisions of § 58.1-3, the Department of Taxation shall annually provide information to the Virginia Port Authority related to tax credits issued pursuant to this section.","type":"section","prefixes":["F"],"prefix":"F","entire_prefix":"F","prefix_anchor":"F","level":1,"prior_prefix":"E","next_prefix":"G"},"10":{"id":198837,"text":"The Tax Commissioner shall issue guidelines that are necessary and desirable to carry out the provisions of this section, including (i) the computation and carryover of the credits provided under this section and (ii) the establishment of criteria for international trade facilities. Such guidelines shall be exempt from the Administrative Process Act (§ 2.2-4000 et seq.).","type":"section","prefixes":["G"],"prefix":"G","entire_prefix":"G","prefix_anchor":"G","level":1,"prior_prefix":"F"}},"ancestry":[{"id":13153,"edition_id":1,"name":"Tax Credits for Corporations","identifier":"13","label":"article","depth":4,"order_by":1,"parent_id":13152,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":253497,"object_type":"structure","relational_id":13153,"identifier":"13","token":"58.1\/I\/3\/13","url":"\/58.1\/I\/3\/13\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13152,"edition_id":1,"name":"Income Tax","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12837,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":253267,"object_type":"structure","relational_id":13152,"identifier":"3","token":"58.1\/I\/3","url":"\/58.1\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12837,"edition_id":1,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":252075,"object_type":"structure","relational_id":12837,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":59349,"structure_id":13153,"section_number":"58.1-430","catch_line":"Repealed","url":"\/58.1-430\/","token":"58.1\/I\/3\/13\/58.1-430","metadata":false},{"id":79747,"structure_id":13153,"section_number":"58.1-431","catch_line":"Repealed","url":"\/58.1-431\/","token":"58.1\/I\/3\/13\/58.1-431","metadata":false},{"id":87213,"structure_id":13153,"section_number":"58.1-432","catch_line":"Tax credit for purchase of conservation tillage equipment","url":"\/58.1-432\/","token":"58.1\/I\/3\/13\/58.1-432","metadata":false},{"id":78377,"structure_id":13153,"section_number":"58.1-433","catch_line":"Expired","url":"\/58.1-433\/","token":"58.1\/I\/3\/13\/58.1-433","metadata":false},{"id":84600,"structure_id":13153,"section_number":"58.1-433.1","catch_line":"Virginia Coal Employment and Production Incentive Tax Credit","url":"\/58.1-433.1\/","token":"58.1\/I\/3\/13\/58.1-433.1","metadata":false},{"id":72145,"structure_id":13153,"section_number":"58.1-434","catch_line":"Repealed","url":"\/58.1-434\/","token":"58.1\/I\/3\/13\/58.1-434","metadata":false},{"id":62315,"structure_id":13153,"section_number":"58.1-436","catch_line":"Tax credit for purchase of conservation tillage and precision agricultural application equipment","url":"\/58.1-436\/","token":"58.1\/I\/3\/13\/58.1-436","metadata":false},{"id":62397,"structure_id":13153,"section_number":"58.1-437","catch_line":"Repealed","url":"\/58.1-437\/","token":"58.1\/I\/3\/13\/58.1-437","metadata":false},{"id":83316,"structure_id":13153,"section_number":"58.1-438","catch_line":"Not effective","url":"\/58.1-438\/","token":"58.1\/I\/3\/13\/58.1-438","metadata":false},{"id":56216,"structure_id":13153,"section_number":"58.1-438.1","catch_line":"Tax credit for vehicle emissions testing equipment, clean-fuel vehicles and certain refueling property","url":"\/58.1-438.1\/","token":"58.1\/I\/3\/13\/58.1-438.1","metadata":false},{"id":62311,"structure_id":13153,"section_number":"58.1-439","catch_line":"Major business facility job tax credit","url":"\/58.1-439\/","token":"58.1\/I\/3\/13\/58.1-439","metadata":false},{"id":63680,"structure_id":13153,"section_number":"58.1-439.1","catch_line":"Repealed","url":"\/58.1-439.1\/","token":"58.1\/I\/3\/13\/58.1-439.1","metadata":false},{"id":76474,"structure_id":13153,"section_number":"58.1-439.10","catch_line":"Tax credit for purchase of waste motor oil burning equipment","url":"\/58.1-439.10\/","token":"58.1\/I\/3\/13\/58.1-439.10","metadata":false},{"id":85121,"structure_id":13153,"section_number":"58.1-439.11","catch_line":"Repealed","url":"\/58.1-439.11\/","token":"58.1\/I\/3\/13\/58.1-439.11","metadata":false},{"id":59921,"structure_id":13153,"section_number":"58.1-439.12","catch_line":"Riparian forest buffer protection for waterways tax 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landlords","url":"\/58.1-439.12_04\/","token":"58.1\/I\/3\/13\/58.1-439.12_04","metadata":false},{"id":57964,"structure_id":13153,"section_number":"58.1-439.12:05","catch_line":"Green and alternative energy job creation tax credit","url":"\/58.1-439.12_05\/","token":"58.1\/I\/3\/13\/58.1-439.12_05","metadata":false},{"id":66012,"structure_id":13153,"section_number":"58.1-439.12:06","catch_line":"International trade facility tax credit","url":"\/58.1-439.12_06\/","token":"58.1\/I\/3\/13\/58.1-439.12_06","metadata":false},{"id":58192,"structure_id":13153,"section_number":"58.1-439.12:07","catch_line":"Telework expenses tax credit","url":"\/58.1-439.12_07\/","token":"58.1\/I\/3\/13\/58.1-439.12_07","metadata":false},{"id":84261,"structure_id":13153,"section_number":"58.1-439.12:08","catch_line":"Research and development expenses tax 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Coalfield employment enhancement tax credit","url":"\/58.1-439.2\/","token":"58.1\/I\/3\/13\/58.1-439.2","metadata":false},{"id":63351,"structure_id":13153,"section_number":"58.1-439.3","catch_line":"Repealed","url":"\/58.1-439.3\/","token":"58.1\/I\/3\/13\/58.1-439.3","metadata":false},{"id":58298,"structure_id":13153,"section_number":"58.1-439.4","catch_line":"Day-care facility investment tax credit","url":"\/58.1-439.4\/","token":"58.1\/I\/3\/13\/58.1-439.4","metadata":false},{"id":66742,"structure_id":13153,"section_number":"58.1-439.5","catch_line":"Agricultural best management practices tax credit","url":"\/58.1-439.5\/","token":"58.1\/I\/3\/13\/58.1-439.5","metadata":false},{"id":81908,"structure_id":13153,"section_number":"58.1-439.6","catch_line":"Worker retraining tax credit","url":"\/58.1-439.6\/","token":"58.1\/I\/3\/13\/58.1-439.6","metadata":false},{"id":60296,"structure_id":13153,"section_number":"58.1-439.6:1","catch_line":"Worker training tax 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credit","url":"\/58.1-439.12_08\/","token":"58.1\/I\/3\/13\/58.1-439.12_08","metadata":false},"next_section":{"id":78639,"structure_id":13153,"section_number":"58.1-439.12:10","catch_line":"Virginia port volume increase tax credit","url":"\/58.1-439.12_10\/","token":"58.1\/I\/3\/13\/58.1-439.12_10","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-439.12:09\/","history_text":"

This law was first created in 2011. The record of its establishment is cataloged in chapters 820<\/a> and 861<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. It has been modified 3 times. Those modifications are cataloged by \u201cThe Acts of Assembly,\u201d a state publication, by year and chapter. Those modifications that can be read on the General Assembly\u2019s website will be linked accordingly. Those modifications are as follows: in 2012, chapters 846<\/a> and 849<\/a>; in 2014, chapter 423<\/a>; in 2016, chapter 69<\/a>.<\/p>","references":[{"id":78639,"section_number":"58.1-439.12:10","catch_line":"Virginia port volume increase tax credit","order_by":null,"url":"\/58.1-439.12_10\/"},{"id":60724,"section_number":"62.1-132.3:6","catch_line":"Virginia Barge and Rail Usage Grant Program and Fund","order_by":null,"url":"\/62.1-132.3_6\/"}],"refers_to":[{"id":86911,"section_number":"2.2-4000","catch_line":"Short title; purpose","order_by":null,"url":"\/2.2-4000\/"},{"id":54678,"section_number":"58.1-1200","catch_line":"Title","order_by":null,"url":"\/58.1-1200\/"},{"id":56221,"section_number":"58.1-2500","catch_line":"Definitions","order_by":null,"url":"\/58.1-2500\/"},{"id":54193,"section_number":"58.1-2620","catch_line":"Basis of tax","order_by":null,"url":"\/58.1-2620\/"},{"id":57817,"section_number":"58.1-3","catch_line":"Secrecy of information; penalties","order_by":null,"url":"\/58.1-3\/"},{"id":62270,"section_number":"58.1-320","catch_line":"Imposition of tax","order_by":null,"url":"\/58.1-320\/"},{"id":82371,"section_number":"58.1-360","catch_line":"Imposition of tax","order_by":null,"url":"\/58.1-360\/"},{"id":60955,"section_number":"58.1-400","catch_line":"Imposition of tax","order_by":null,"url":"\/58.1-400\/"}],"permalink":{"id":253591,"object_type":"law","relational_id":54175,"identifier":"58.1-439.12:09","token":"58.1\/I\/3\/13\/58.1-439.12_09","url":"\/58.1-439.12_09\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-439.12_09\/","token":"58.1\/I\/3\/13\/58.1-439.12_09","dublin_core":{"Title":"Barge and rail usage tax credit","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-439.12:09","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this section:\n\t\t\t“International trade facility<\/span>” means a company that: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> Is doing business in the Commonwealth and engaged in port-related activities, including but not limited to warehousing, distribution, freight forwarding and handling, and goods processing; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> Has the sole discretion and authority to move cargo originating or terminating in the Commonwealth; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> Uses maritime port facilities located in the Commonwealth; and <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> Uses barges and rail systems to move cargo through port facilities in the Commonwealth rather than trucks or other motor vehicles on the Commonwealth’s highways. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> For taxable years beginning on and after January 1, 2011, but before January 1, 2025, a company that is an international trade facility<\/span> shall be allowed a credit against the taxes imposed by Articles 2 (§ 58.1-320<\/a> et seq.), 6 (§ 58.1-360<\/a> et seq.), and 10 (§ 58.1-400<\/a> et seq.); Chapter 12 (§ 58.1-1200<\/a> et seq.); Article 1 (§ 58.1-2500<\/a> et seq.) of Chapter 25; or Article 2 (§ 58.1-2620<\/a> et seq.) of Chapter 26. The amount of the credit shall be $25 per 20-foot equivalent unit (TEU), 16 tons of noncontainerized cargo, or one unit of roll-on\/roll-off cargo moved by barge or rail rather than by trucks or other motor vehicles on the Commonwealth’s highways. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> The Tax Commissioner<\/span> shall issue<\/span> tax credits under this section, and in no case shall the Tax Commissioner<\/span> issue<\/span> more than $500,000 in tax credits pursuant to this section in any fiscal year of the Commonwealth. In addition, the Tax Commissioner<\/span> shall not issue<\/span> tax credits under this section subsequent to the Commonwealth’s fiscal year ending on June 30, 2025. The international trade facility<\/span> shall not be allowed to claim any tax credit under this section unless it has applied to the Department<\/span> for the tax credit and the Department<\/span> has approved the credit. The Department<\/span> shall determine the credit amount allowable for the year and shall provide a written certification to the international trade facility<\/span>, which certification shall report the amount of the tax credit approved by the Department<\/span>. The international trade facility<\/span> shall attach the certification to the applicable tax return. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> For purposes of this section, the amount of any credit attributable to a partnership, electing small business corporation<\/span> (S corporation<\/span>), or limited liability company shall be allocated to the individual<\/span> partners, shareholders, or members, respectively, in proportion to their ownership or interest in such business entities. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

E.<\/span> Any credit not usable for the taxable year may be carried over for the next five taxable years or until such credit is fully taken, whichever occurs first. The amount of the credit allowed pursuant to this section shall not exceed the tax imposed for such taxable year. No credit shall be carried back to a preceding taxable year. If a taxpayer<\/span> that is subject to the tax limitation imposed pursuant to this subsection is allowed another credit pursuant to any other section of this Code or has a credit carryover from a preceding taxable year, such taxpayer<\/span> shall be considered to have first utilized any credit allowed that does not have a carryover provision, and then any credit that is carried forward from a preceding taxable year, before using any credit allowed pursuant to this section. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

F.<\/span> Notwithstanding the provisions of § 58.1-3<\/a>, the Department<\/span> of Taxation shall annually provide information to the Virginia Port Authority related to tax credits issued pursuant to this section. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

G.<\/span> The Tax Commissioner<\/span> shall issue<\/span> guidelines that are necessary and desirable to carry out the provisions of this section, including (i) the computation and carryover of the credits provided under this section and (ii) the establishment of criteria for international trade facilities. Such guidelines shall be exempt from the Administrative Process Act (§ 2.2-4000<\/a> et seq.). <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nBARGE AND RAIL USAGE TAX CREDIT (\u00a7 58.1-439.12:09)\n\nA. As used in this section:\n\t\t\t“International trade facility” means a company that:\n\n 1. Is doing business in the Commonwealth and engaged in port-related\n activities, including but not limited to warehousing, distribution, freight\n forwarding and handling, and goods processing;\n\n 2. Has the sole discretion and authority to move cargo originating or\n terminating in the Commonwealth;\n\n 3. Uses maritime port facilities located in the Commonwealth; and\n\n 4. Uses barges and rail systems to move cargo through port facilities in the\n Commonwealth rather than trucks or other motor vehicles on the\n Commonwealth’s highways.\n\nB. For taxable years beginning on and after January 1, 2011, but before January\n1, 2025, a company that is an international trade facility shall be allowed a\ncredit against the taxes imposed by Articles 2 (§ 58.1-320 et seq.), 6\n(§ 58.1-360 et seq.), and 10 (§ 58.1-400 et seq.); Chapter 12 (§\n58.1-1200 et seq.); Article 1 (§ 58.1-2500 et seq.) of Chapter 25; or\nArticle 2 (§ 58.1-2620 et seq.) of Chapter 26. The amount of the credit\nshall be $25 per 20-foot equivalent unit (TEU), 16 tons of noncontainerized\ncargo, or one unit of roll-on\/roll-off cargo moved by barge or rail rather than\nby trucks or other motor vehicles on the Commonwealth’s highways.\n\nC. The Tax Commissioner shall issue tax credits under this section, and in no\ncase shall the Tax Commissioner issue more than $500,000 in tax credits pursuant\nto this section in any fiscal year of the Commonwealth. In addition, the Tax\nCommissioner shall not issue tax credits under this section subsequent to the\nCommonwealth’s fiscal year ending on June 30, 2025. The international\ntrade facility shall not be allowed to claim any tax credit under this section\nunless it has applied to the Department for the tax credit and the Department\nhas approved the credit. The Department shall determine the credit amount\nallowable for the year and shall provide a written certification to the\ninternational trade facility, which certification shall report the amount of the\ntax credit approved by the Department. The international trade facility shall\nattach the certification to the applicable tax return.\n\nD. For purposes of this section, the amount of any credit attributable to a\npartnership, electing small business corporation (S corporation), or limited\nliability company shall be allocated to the individual partners, shareholders,\nor members, respectively, in proportion to their ownership or interest in such\nbusiness entities.\n\nE. Any credit not usable for the taxable year may be carried over for the next\nfive taxable years or until such credit is fully taken, whichever occurs first.\nThe amount of the credit allowed pursuant to this section shall not exceed the\ntax imposed for such taxable year. No credit shall be carried back to a\npreceding taxable year. If a taxpayer that is subject to the tax limitation\nimposed pursuant to this subsection is allowed another credit pursuant to any\nother section of this Code or has a credit carryover from a preceding taxable\nyear, such taxpayer shall be considered to have first utilized any credit\nallowed that does not have a carryover provision, and then any credit that is\ncarried forward from a preceding taxable year, before using any credit allowed\npursuant to this section.\n\nF. Notwithstanding the provisions of § 58.1-3, the Department of Taxation\nshall annually provide information to the Virginia Port Authority related to tax\ncredits issued pursuant to this section.\n\nG. The Tax Commissioner shall issue guidelines that are necessary and desirable\nto carry out the provisions of this section, including (i) the computation and\ncarryover of the credits provided under this section and (ii) the establishment\nof criteria for international trade facilities. Such guidelines shall be exempt\nfrom the Administrative Process Act (§ 2.2-4000 et seq.).\n\nHISTORY: 2011, cc. 820, 861; 2012, cc. 846, 849; 2014, c. 423; 2016, c. 69;\n2021, Sp. Sess. I, c. 373.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}