To apply for taxable year 2016, submit application form PVI and all required documentation to Virginia Port Authority by March 1, 2017. Click here to download application form PVI
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 (5% volume increase can be waived).
To apply for taxable year 2016, submit application BRU and all required documentation to Virginia Department of Taxation by April 1, 2017. Click here for application form BRU.
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.
To apply for taxable year 2016, submit application ITF and all required documentation to Virginia Department of Taxation by April 1, 2017. Click here for application form ITF .
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.
For more information about these programs, please contact:
Vice President, Economic Development
Virginia Port Authority
600 World Trade Center
Norfolk, VA 23510