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2004 SESSION
HB 1361 Income tax, corp.; changes provisions for permissible & impermissible trans. between companies.
Introduced by: Samuel A. Nixon, Jr. | all patrons ... notes | add to my profiles
SUMMARY AS PASSED HOUSE: (all summaries)
Corporate income tax; add back for related companies. Describes permissible and impermissible transactions between interrelated companies for purposes of calculating their Virginia corporate income tax liability. In general, a company is required to add back interest expenses and costs and intangible expenses and costs relating to transactions with one or more related entities, but several exceptions or "safe harbors" are provided to protect most interrelated company transactions.
FULL TEXT
- 01/22/04 House: Presented & ordered printed 048372432 pdf | impact statement
- 02/14/04 House: Committee substitute printed 041832432-H1 pdf | impact statement
HISTORY
- 01/22/04 House: Presented & ordered printed 048372432
- 01/22/04 House: Referred to Committee on Finance
- 01/26/04 House: Assigned to Finance sub-committee: 2
- 02/13/04 House: Reported from Finance with sub (22-Y 0-N)
- 02/14/04 House: Committee substitute printed 041832432-H1
- 02/14/04 House: Read first time
- 02/16/04 House: Read second time
- 02/16/04 House: Committee substitute agreed to 041832432-H1
- 02/16/04 House: Engrossed by House - committee substitute HB1361H1
- 02/17/04 House: Read third time and passed House BLOCK VOTE (100-Y 0-N)
- 02/17/04 House: VOTE: BLOCK VOTE PASSAGE (100-Y 0-N)
- 02/17/04 House: Communicated to Senate
- 02/18/04 Senate: Constitutional reading dispensed
- 02/18/04 Senate: Referred to Committee on Finance
- 03/02/04 Senate: No action taken by Finance by voice vote