Va. Pols Close To Approving New Tax Break For Exporters

Law360, New York (February 18, 2014, 1:56 PM EST) -- Virginia lawmakers on Monday took one more step toward approving legislation that would create a new tax break for small and medium-size companies that do business overseas, by exempting so-called domestic international sales corporations from state taxes.

The House Finance Committee voted 21-0 to move the bill out of committee, paving the way for a final vote on the House floor. The Senate already approved the legislation earlier this month by a vote of 37-0.

Export companies have utilized domestic international sales corporations, known as DISCs,...
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