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2005 SESSION

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SB 1201 Unemployment tax rate; penalties for transfering any trade or business for a lower tax rate.

Introduced by: Yvonne B. Miller | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED SENATE: (all summaries)

Unemployment compensation; state unemployment tax dumping; penalties. Establishes the civil and criminal penalties that shall be assessed against, and the unemployment compensation tax rates that shall apply to, persons who transfer any trade or business to another where at the time of transfer there is substantially common ownership, management, or control of the trade or business and the sole or primary purpose of the transfer is to obtain a lower unemployment tax rate. Provisions prohibiting such transfers of a trade or business and imposing penalties will become effective in the first rate year as set forth in federal law. This bill is identical to HB 2137.


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