VMA Government Relations Committee (GRC) & VMA Taxation Committee Special Joint Meeting

Description

Join VMA for a special Government Relations Committee meeting to discuss emerging tax policy issues affecting Virginia manufacturers. The meeting will focus on growing legislative scrutiny of Virginia's manufacturing sales and use tax treatment amid the ongoing debate over data center tax incentives. Members will review the October 26 Joint Subcommittee on Tax Policy meeting, the Virginia Department of Taxation's recent inquiry to VMA, and VMA's report explaining the distinction between manufacturing's longstanding, by-right tax treatment and discretionary economic development incentives. The Committee will also discuss Senator Mamie Locke's SB849, which proposes a new 10% individual income tax bracket for taxable income exceeding $1 million, including potential impacts on owners of LLCs and other pass-through businesses. Member feedback will help inform VMA's advocacy strategy and ensure consistent messaging ahead of the General Assembly's money committee meetings later this month.