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2004 SESSION

• | print version

HB 149 Partnerships; filing of information returns.

Introduced by: David B. Albo | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Taxation; information returns filed by pass-through entities; penalty. Requires pass-through entities (limited partnerships, limited liability partnerships, general partnerships, limited liability companies, professional limited liability companies, business trusts and Subchapter S corporations) doing business in Virginia or having income from Virginia sources to file an information return with the Tax Commissioner by the fifteenth of the fourth month after the end of the entity's taxable year. The pass-through entity is not liable for any tax, but its owners as individuals may be. Any officer or owner of a pass-through entity who makes a fraudulent return or statement with the intent of assisting or facilitating the evasion of taxes shall be guilty of a Class 6 felony and subject to a $1,000 maximum penalty.

FULL TEXT

• 01/14/04  House: Presented & ordered printed, prefiled 12/30/03 047655204  pdf | impact statements

HISTORY

• 01/14/04  House: Presented & ordered printed, prefiled 12/30/03 047655204
• 01/14/04  House: Referred to Committee on Finance
• 01/15/04  House: Assigned to Finance sub-committee: 2
• 02/11/04  House: Continued to 2005 in Finance (21-Y 0-N)