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Tax Incentives

Credits

Port Volume Increase Tax Credit

Apply
To apply for taxable year 2020, submit application form PVI and all required documentation to Virginia Port Authority by March 1, 2021. Click here to download the PVI Application

Description
Tax credit for taxpayers engaged in the manufacturing of goods or the distribution of manufactured goods, agricultural entities, or mineral and gas entities that use public or private port facilities located in Virginia and increase cargo volume through the facility by 5% in a single calendar year over their base year cargo volume.

Credit is $50 per TEU or one unit of roll-on/roll-off cargo in excess of the base year cargo; tonnage conversion rate is 16 tons = 1 TEU

Major Facility: credit is $50 per TEU or unit of roll-on/roll-off cargo during the major facility’s 1st calendar year.

Additional information:

Code of Virginia Section 58.1-439.12:10

Guidance Document

Barge and Rail Usage Tax Credit

Apply
To apply for taxable year 2020, submit application BRU and all required documentation to Virginia Department of Taxation by April 1, 2021. Click here to download the BRU application.

Description
Tax credit for usage of barge or rail to move cargo rather than by truck or other motor vehicle on Virginia’s highways.

Credit is $25 per TEU, 16 tons of noncontainerized cargo, or one unit of roll-on/roll-off cargo  in excess of the number of containers shipped by barge or rail by the taxpayer during the immediately preceding taxable year.

Additional Information:

Code of Virginia Section 58.1-439.12:09

Guidance Document

International Trade Facility Tax Credit

Apply
To apply for taxable year 2020, submit application ITF and all required documentation to Virginia Department of Taxation by April 1, 2021. Click here to download the ITF application.

Description
Tax credit for either creating new jobs or capital investment in an international trade facility as a result of moving 5% more cargo through a public or private port facility in Virginia than in the preceding tax-able year.

Credit is either (i) $3,500 per qualified full-time employee that results from increased qualified trade activities by the taxpayer or(ii) an amount equal to 2% of qualified capital investment expenses made by the taxpayer to facilitate increased qualified trade activities.

Additional information:

Code of Virginia Section 58.1-429.12:06

Guidance Document

Do You Qualify?

Do you have an individual or corporate income tax liability in Virginia, and do you use maritime port facilities in Virginia?

If you can answer “yes” to any of the questions below for calendar year 2017, you MAY be eligible to claim one of more of the Virginia Port Tax Credits for the 2017 tax year. You may claim more than one tax credit in the same taxable year, but not for the same activity.

  1. Did you take trucks off Virginia’s highways by moving more cargo by rail or barge than in 2019? If so, learn more about the Barge and Rail Usage Tax Credit (Links to the Code of Virginia section and the Draft Guidelines on the Commonwealth website)
  2. Did you move 5% more cargo through a public or private port facility in Virginia than in 2019 and either make a capital investment in a facility or increase jobs as a result of the increased trade activity? If so, learn more about the International Trade Facility Tax Credit
  3. Did you move 5% more cargo through a public or private port facility in Virginia than in 2019 and engage in the manufacturing of goods or the distribution of manufactured goods, are an agricultural entity or a mineral or gas entity? If so, learn more about the Port Volume Increase Tax Credit

Verify Cargo Volumes

Help

Tax Application Questions

Regarding the Barge & Rail Usage Tax Credit and the International Trade Facility Tax Credit, please contact the Tax Credit Unit: (804) 786-2992

Regarding the Port Volume Increase Tax Credit, please contact the Virginia Port Authority toll free: (855) 771-3990

Technical Questions

For technical questions or issues concerning the use of this verification tool please send an email to helpdesk@vit.org  Please include “Tax Incentives” in the subject line of your email. In the body of the email, describe the issue you are having and include the exact step of the process you were on when problems occurred.

You can also call (757) 683-2167 between the hours of 8 am and 5 pm EST Monday through Friday.

(Helpdesk closed on New Year’s Day, Martin Luther King, Jr.’s Birthday, Washington’s Birthday and Memorial Day)

Disclaimer

Though private personal information may be required in the Port Volume Increase Tax Credit Application, we cannot collect confidential tax information via the internet or e-mail due to the lack of a secure server.By collecting this data via the internet or e-mail, we are subject to the requirements for administering information systems as established in the Virginia Privacy Protection Act, Chapter 26 of Title 2.1 of the Code of Virginia and our servers do not presently meet those requirements Therefore, please do not provide confidential tax information to the VPA through the VPA website or via a VPA employee e-mail accounts. We cannot safeguard the private personal information you might otherwise submit at the present time. Please submit any private personal information in your Port Volume Increase Tax Credit Application by regular mail, an independent secure courier service or the fax number provided in the Port Volume Increase Tax Credit application. Thank you.

Contact

For more information about these programs, please contact:

Russell Held
Vice President, Economic Development
Virginia Port Authority
600 World Trade Center
Norfolk, VA 23510
Direct: 757-683-2115