2006 Code of Virginia § 63.2-2004 - Donations of professional services

63.2-2004. Donations of professional services.

A. A sole proprietor, partnership or limited liability company engaged in thebusiness of providing professional services shall be eligible for a taxcredit under this chapter based on the time spent by the proprietor or apartner or member, respectively, who renders professional services to aprogram which has received an allocation of tax credits from theCommissioner. The value of the professional services, for purposes ofdetermining the amount of the tax credit allowable, rendered by theproprietor or a partner or member to an approved program shall not exceed thelesser of (i) the reasonable cost for similar services from other providersor (ii) $125 per hour.

B. A business firm shall be eligible for a tax credit under this chapter forthe time spent by a salaried employee who renders professional services to anapproved program. The value of the professional services, for purposes ofdetermining the amount of tax credit allowed to a business firm for timespent by its salaried employee in rendering professional services to anapproved project, shall be equal to the salary that such employee wasactually paid for the period of time that such employee rendered professionalservices to the approved program.

C. Notwithstanding any provision of this chapter limiting eligibility for taxcredits to business firms, physicians, chiropractors, dentists, nurses, nursepractitioners, physician assistants, optometrists, dental hygienists,professional counselors, clinical social workers, clinical psychologists,marriage and family therapists, physical therapists, and pharmacists licensedpursuant to Title 54.1 who provide health care services within the scope oftheir licensure, without charge, to patients of a clinic operated by anorganization that has received an allocation of tax credits from theCommissioner and such clinic is organized in whole or in part for thedelivery of health care services without charge, or to a clinic operated notfor profit providing health care services for charges not exceeding those setforth in a scale prescribed by the State Board of Health pursuant to 32.1-11 for charges to be paid by persons based upon ability to pay, shall beeligible for a tax credit pursuant to 63.2-2003 based on the time spent inproviding health care services to patients of such clinic, regardless ofwhere the services are delivered. The value of such services, for purposes ofdetermining the amount of the tax credit allowable, rendered by thephysician, chiropractor, dentist, nurse, nurse practitioner, physicianassistant, optometrist, dental hygienist, professional counselor, clinicalsocial worker, clinical psychologist, marriage and family therapist, physicaltherapist, or pharmacist, shall not exceed the lesser of (i) the reasonablecost for similar services from other providers or (ii) $125 per hour.

(1981, c. 629, 63.1-325; 1982, c. 178; 1984, c. 720; 1997, cc. 229, 640;1998, c. 432; 1999, cc. 894, 917; 2002, cc. 103, 747; 2003, c. 186; 2004, cc.183, 657, 725.)