Virginia Preserves Data Center Tax Incentive, Adds New Electricity Consumption Tax

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Virginia has significantly altered the tax landscape for one of its largest and fastest-growing industries by imposing a new tax on electricity consumed by data center operators. Beginning July 1, 2026, operators are subject to a tax of $0.011 per kilowatt-hour of electricity consumed, with annual collections capped at $600 million….
By: Holland & Knight LLP
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