§ 58.1-2626.1. The Virginia Coal Employment and Production Incentive TaxCredit.
A. For the tax years beginning on and after January 1, 1988, everycorporation in the Commonwealth doing the business of furnishing water, heat,light or power to the Commonwealth or its citizens, whether by means ofelectricity, gas or steam shall be allowed a credit against the tax imposedby § 58.1-2626 in the following amount: one dollar per ton for each ton ofcoal purchased and consumed by such corporation in excess of the number oftons of Virginia coal purchased by such corporation in 1985, provided suchcoal was mined in Virginia as certified by the producer of such coal. Thiscredit shall be prorated equally against the corporation's estimated paymentsmade in September and December and the final payment.
B. For tax years beginning on and after January 1, 1989, every corporation inthe Commonwealth doing the business of furnishing water, heat, light or powerto the Commonwealth or its citizens, whether by means of electricity, gas orsteam shall be allowed additional credit against the tax imposed by §58.1-2626 in the following amount: one dollar per ton for each ton of coalpurchased and consumed by such corporation, provided such coal was mined inVirginia as certified by such seller. The credit shall be prorated equallyagainst the corporation's estimated payments made in September and Decemberand the final payment.
§ 58.1-2626.1. The Virginia Coal Employment and Production Incentive TaxCredit.
A. For the tax years beginning on and after January 1, 1988, everycorporation in the Commonwealth doing the business of furnishing water, heat,light or power to the Commonwealth or its citizens, whether by means ofelectricity, gas or steam shall be allowed a credit against the tax imposedby § 58.1-2626 in the following amount: one dollar per ton for each ton ofcoal purchased and consumed by such corporation in excess of the number oftons of Virginia coal purchased by such corporation in 1985, provided suchcoal was mined in Virginia as certified by the producer of such coal. Thiscredit shall be prorated equally against the corporation's estimated paymentsmade in September and December and the final payment.
B. For tax years beginning on and after January 1, 1989, every corporation inthe Commonwealth doing the business of furnishing water, heat, light or powerto the Commonwealth or its citizens, whether by means of electricity, gas orsteam shall be allowed additional credit against the tax imposed by §58.1-2626 in the following amount: one dollar per ton for each ton of coalpurchased and consumed by such corporation, provided such coal was mined inVirginia as certified by such seller. The credit shall be prorated equallyagainst the corporation's estimated payments made in September and Decemberand the final payment.
§ 58.1-2626.1. The Virginia Coal Employment and Production Incentive TaxCredit.
A. For the tax years beginning on and after January 1, 1988, everycorporation in the Commonwealth doing the business of furnishing water, heat,light or power to the Commonwealth or its citizens, whether by means ofelectricity, gas or steam shall be allowed a credit against the tax imposedby § 58.1-2626 in the following amount: one dollar per ton for each ton ofcoal purchased and consumed by such corporation in excess of the number oftons of Virginia coal purchased by such corporation in 1985, provided suchcoal was mined in Virginia as certified by the producer of such coal. Thiscredit shall be prorated equally against the corporation's estimated paymentsmade in September and December and the final payment.
B. For tax years beginning on and after January 1, 1989, every corporation inthe Commonwealth doing the business of furnishing water, heat, light or powerto the Commonwealth or its citizens, whether by means of electricity, gas orsteam shall be allowed additional credit against the tax imposed by §58.1-2626 in the following amount: one dollar per ton for each ton of coalpurchased and consumed by such corporation, provided such coal was mined inVirginia as certified by such seller. The credit shall be prorated equallyagainst the corporation's estimated payments made in September and Decemberand the final payment.
