Virginia Historic Rehabilitation Tax Credit

Virginia Historic Rehabilitation Tax Credit Summary

  • Applicable against the Virginia corporate and individual income tax, bank franchise tax, and premium tax.
  • May offset 100% of taxpayer’s liability
  • Excess credits carry forward for up to 10 years.
  • For taxable years beginning on or after January 1, 2017, but before January 1, 2019, credits are limited to five million for each taxpayer, including carry forwards in any taxable year.
  • Credits are pre-approved by the state.
Other states offering historic rehabilitation tax credits