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2017 SESSION
HB 1961 License tax, local; methodology for deducting certain gross receipts.
Introduced by: Timothy D. Hugo | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Local license tax; methodology for deducting certain gross receipts. Requires the Department of Taxation to promulgate regulations that clarify the appropriate methodology for determining deductible gross receipts attributable to business conducted in another state or a foreign country. The bill requires the regulations to be based on previous Rulings of the Tax Commissioner and the decision of the Supreme Court of Virginia in The Nielsen Company, LLC v. County Board of Arlington County, 289 Va. 79 (2015). In that decision, the Court endorsed the Tax Commissioner's ruling to require manual accounting but to allow payroll apportionment in the event that manual accounting is impossible to use in order to calculate the deduction.
FULL TEXT
- 01/10/17 House: Prefiled and ordered printed; offered 01/11/17 17101883D pdf | impact statement
- 02/14/17 House: Bill text as passed House and Senate (HB1961ER) pdf | impact statement
- 02/20/17 Governor: Acts of Assembly Chapter text (CHAP0050) pdf
HISTORY
- 01/10/17 House: Prefiled and ordered printed; offered 01/11/17 17101883D
- 01/10/17 House: Referred to Committee on Finance
- 01/17/17 House: Assigned Finance sub: Subcommittee #2
- 01/25/17 House: Subcommittee recommends reporting (10-Y 0-N)
- 01/30/17 House: Reported from Finance (22-Y 0-N)
- 01/31/17 House: Read first time
- 02/01/17 House: Read second time and engrossed
- 02/02/17 House: Read third time and passed House BLOCK VOTE (95-Y 0-N)
- 02/02/17 House: VOTE: BLOCK VOTE PASSAGE (95-Y 0-N)
- 02/03/17 Senate: Constitutional reading dispensed
- 02/03/17 Senate: Referred to Committee on Finance
- 02/08/17 Senate: Reported from Finance (14-Y 0-N)
- 02/09/17 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/10/17 Senate: Read third time
- 02/10/17 Senate: Passed Senate (39-Y 0-N)
- 02/14/17 House: Enrolled
- 02/14/17 House: Bill text as passed House and Senate (HB1961ER)
- 02/14/17 House: Signed by Speaker
- 02/15/17 Senate: Signed by President
- 02/15/17 House: Enrolled Bill communicated to Governor on 2/15/17
- 02/15/17 Governor: Governor's Action Deadline Midnight, February 22, 2017
- 02/20/17 Governor: Approved by Governor-Chapter 50 (effective 7/1/17)
- 02/20/17 Governor: Acts of Assembly Chapter text (CHAP0050)