Virginia Space Tax Measure Now Law

Virginia Gov. Robert F. McDonnell signed into law Senate Bill No. 1447, a measure to earmark any human space flight or human space flight training generated state income tax revenue to the Virginia Commercial Space Flight Authority, as offered by State Senator William C. Wampler, Jr. (R-Bristol).

The new Virginia tax law is expected to become effective July 1, 2011 for tax years 2011, 2012, 2013, 2014 and 2015. Space Adventures is expected to resume commercial space flights on the Soyuz to the ISS in 2013-2014 and, perhaps, enlist two lunar space tourists for a $300-million flight around the Moon in 2015.

The 6% state income tax rate paid by Space Adventures to Virginia would be promptly directed to the Virginia Commercial Space Flight Authority for spaceport infrastructure. The Vienna, Va-based Space Adventures backed the measure after Wampler started working the measure in late 2009.

In 2008, Wampler lead the effort and gain adoption of the Virginia ZeroGravity - ZeroTax law exempting Virginia commercial space flight firms from taxation launching payloads to suborbital or orbital space from the Mid-Atlantic Regional Spaceport facilities on Wallops Island, Va.