From the instructions for form 763:
Code 52. Certain Long-Term Capital Gains
Provided the long-term capital gain or investment services
partnership income is attributable to an investment in a
“qualified business” as defined in Va. Code § 58.1-339.4 or
any other technology business approved by the Secretary of
Technology, it may be allowed as a subtraction. The business
must have its principal facility in Virginia and less than $3
million in annual revenues for the fiscal year preceding the
investment. The investment must be made between the dates
of April 1, 2010, and June 30, 2020. Taxpayers claiming
the Qualified Equity and Subordinated Debt Credit cannot
claim this subtraction relating to investments in the same
business. In addition, no investment is “qualified” for this
deduction if the business performs research in Virginia on
human embryonic stem cells.
Reference: <a rel="nofollow" target="_blank" href="
https://www.tax.virginia.gov/sites/default/files/2017-01/763-2016-instructions.pdf">https://www.tax....>
