VIRGINIA LAW PORTAL

• Code of Virginia
• Virginia Administrative Code
• Constitution of Virginia
• Charters
• Authorities
• Compacts
• Uncodified Acts
• RIS Users (account required)

SEARCHABLE DATABASES

• Bills & Resolutions
  session legislation
• Bill Summaries
  session summaries
• Reports to the General Assembly
  House and Senate documents
• Legislative Liaisons
  State agency contacts

ACROSS SESSIONS

• Subject Index: Since 1995
• Bills & Resolutions: Since 1994
• Summaries: Since 1994

Developed and maintained by the Division of Legislative Automated Systems.

1999 SESSION

• | print version

HB 1954 Corporate income tax; apportionment.

Introduced by: Jay W. DeBoer | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Corporate income tax; apportionment. Revises the formula for calculating the portion of a corporation's income that is subject to the Virginia corporate income tax. Currently, Virginia generally uses a three-factor test by which the total of the property factor, payroll factor, and sales factor is divided by three. Under this measure the sales factor is double-weighted, with the result that, when all three factors are present, the property factor, payroll factor, and twice the sales factor will be divided by four. The measure applies for taxable years beginning on and after January 1, 2000. This same legislation was passed during the 1998 General Assembly Session with the requirement that it be reenacted during the 1999 session.

FULL TEXT

• 01/18/99  House: Presented & ordered printed 994437200  pdf

HISTORY

• 01/18/99  House: Presented & ordered printed 994437200
• 01/18/99  House: Referred to Committee on Corporations, Insurance and Banking
• 01/21/99  House: Reported from Corp., Ins. & Banking (26-Y 0-N)
• 01/21/99  House: Referred to Committee on Finance
• 01/25/99  House: Assigned to Finance sub-committee: 1
• 02/01/99  House: Stricken from docket by Finance (24-Y 0-N)