2014 SESSION

Convened January 8, 2014
Adjourned sine die March 8, 2014
Reconvened April 23, 2014
Adjourned sine die April 23, 2014

CORPORATIONS

(P) Passed (F) Failed (V) Vetoed (I) Incoporated into other legislation

(C) Carried over to 2015 Session

Domestic corporations; service of process. Amending § 8.01-299. (Patron-Petersen, SB 232 (F))

Domestic international sales corporations (DISC); exempt from income taxation beginning on or after January 1, 2014. Amending § 58.1-401. (Patron-Villanueva, HB 480 (Chapter 26); Wagner, SB 515 (Chapter 186))

Economic development, local; Virginia income tax net revenue and sales and use tax generated by certain corporations or limited liability companies within a qualified locality shall be transferred to locality under certain conditions. Adding § 15.2-941.1. (Patron-Garrett, SB 656 (C))

Health insurance; prescription drug formularies, insurer, corporation, or health maintenance organization shall provide to each affected group or individual health benefit plan policyholder or contract holder, etc., not less than 30 days’ prior written notice of modification. Amending § 38.2-3407.9:01. (Patron-Dance, HB 308 (Chapter 272); Puller, SB 201 (Chapter 297))

Income tax, corporate; eliminates tax for taxable years beginning on or after January 1, 2015. Amending § 58.1-400. (Patron-Martin, SB 619 (C))

Income tax, corporate; establishes beginning with 2015 taxable year taxable income threshold for corporate income tax liability and increases amount corporation expects to pay to require estimated payments of income tax. Amending § 58.1-500; adding § 58.1-400.4. (Patron-LeMunyon, HB 453 (C))

Income tax, corporate; market-based sourcing. Amending § 58.1-416. (Patron-Davis, HB 442 (F))

Income tax, corporate; tax rate shall be five percent beginning taxable years on or after January 1, 2015. Amending § 58.1-400. (Patron-Cline, HB 1243 (C))

Income tax, state and corporate; credit for food crop donations to a food bank. Amending §§ 58.1-322 and 58.1-402; adding § 58.1-439.12:11. (Patron-Cline, HB 974 (C))

Income tax, state and corporate; tax credit for small businesses hiring graduates of Virginia’s public colleges. Adding § 58.1-439.12:11. (Patron-Herring, HB 678 (F))

Securities Act; creates an exemption from securities, broker-dealer, and agent registration requirements of Act for an offer or sale of a security by an issuer, etc. Amending § 13.1-514; adding § 13.1-514.3. (Patron-Yost, HB 880 (F); Edwards, SB 351 (C))