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2012 SESSION

• | print version

HB 154 Income tax, corporate; requires retail companies to use single-sales factor apportionment formula.

Introduced by: R. Lee Ware, Jr. | all patrons    ...    notes | add to my profiles

SUMMARY AS PASSED: (all summaries)

Apportionment of corporate income tax; retail companies.  Requires retail companies to use a formula for apportioning taxable income to the Commonwealth based on multiplying their income by the sales factor.  The provisions of the bill would be effective for tax years beginning on or after July 1, 2012, and would be phased in with the apportionment formula having a 100 percent sales factor by 2015. This bill is identical to SB 49.

FULL TEXT

• 01/05/12  House: Prefiled and ordered printed; offered 01/11/12 12101414D  pdf | impact statement
• 02/08/12  House: Printed as engrossed 12101414D-E  pdf | impact statement
• 02/21/12  House: Bill text as passed House and Senate (HB154ER)  pdf | impact statement
• 03/06/12  Governor: Acts of Assembly Chapter text (CHAP0086)  pdf

AMENDMENTS

• House amendments

HISTORY

• 01/05/12  House: Prefiled and ordered printed; offered 01/11/12 12101414D
• 01/05/12  House: Referred to Committee on Finance
• 01/12/12  House: Assigned Finance sub: Subcommittee #2
• 02/01/12  House: Subcommittee recommends reporting with amendment(s) (9-Y 0-N)
• 02/06/12  House: Reported from Finance with amendment (20-Y 2-N)
• 02/07/12  House: Read first time
• 02/08/12  House: Read second time
• 02/08/12  House: Committee amendment agreed to
• 02/08/12  House: Engrossed by House as amended HB154E
• 02/08/12  House: Printed as engrossed 12101414D-E
• 02/09/12  House: Read third time and passed House (97-Y 1-N)
• 02/09/12  House: VOTE: PASSAGE (97-Y 1-N)
• 02/10/12  Senate: Constitutional reading dispensed
• 02/10/12  Senate: Referred to Committee on Finance
• 02/15/12  Senate: Reported from Finance (15-Y 0-N)
• 02/16/12  Senate: Constitutional reading dispensed (39-Y 0-N)
• 02/17/12  Senate: Read third time
• 02/17/12  Senate: Passed Senate (40-Y 0-N)
• 02/21/12  House: Enrolled
• 02/21/12  House: Bill text as passed House and Senate (HB154ER)
• 02/21/12  House: Signed by Speaker
• 02/22/12  Senate: Signed by President
• 03/06/12  Governor: Approved by Governor-Chapter 86 (effective 7/1/12)
• 03/06/12  Governor: Acts of Assembly Chapter text (CHAP0086)