SEARCH SITE
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.
2023 SESSION
HB 1978 Taxable income apportionment; retail companies.
Introduced by: James A. "Jay" Leftwich | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Taxable income apportionment; retail companies. Provides that, beginning with taxable year 2023, affiliated corporations filing on a consolidated basis may elect to apportion the taxable income of all members of the affiliated group using sales factor alone even if one or more members of the affiliated group would be required to use different apportionment factors if filing separate returns. The election is valid only in taxable years for which 80 percent or more of the affiliated group's sales is derived from retail company activities. This bill is identical to SB 1346.
FULL TEXT
- 01/10/23 House: Prefiled and ordered printed; offered 01/11/23 23102917D pdf | impact statement
- 02/20/23 House: Bill text as passed House and Senate (HB1978ER) pdf | impact statement
- 03/17/23 Governor: Acts of Assembly Chapter text (CHAP0038) pdf
HISTORY
- 01/10/23 House: Prefiled and ordered printed; offered 01/11/23 23102917D
- 01/10/23 House: Referred to Committee on Finance
- 01/19/23 House: Assigned Finance sub: Subcommittee #1
- 01/30/23 House: Subcommittee recommends reporting (8-Y 0-N)
- 02/01/23 House: Reported from Finance (22-Y 0-N)
- 02/01/23 House: Referred to Committee on Appropriations
- 02/03/23 House: Reported from Appropriations (21-Y 0-N)
- 02/05/23 House: Read first time
- 02/06/23 House: Read second time and engrossed
- 02/07/23 House: Read third time and passed House BLOCK VOTE (99-Y 0-N)
- 02/07/23 House: VOTE: Block Vote Passage (99-Y 0-N)
- 02/08/23 Senate: Constitutional reading dispensed
- 02/08/23 Senate: Referred to Committee on Finance and Appropriations
- 02/14/23 Senate: Reported from Finance and Appropriations (15-Y 0-N)
- 02/14/23 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/15/23 Senate: Read third time
- 02/15/23 Senate: Passed Senate (40-Y 0-N)
- 02/20/23 House: Enrolled
- 02/20/23 House: Bill text as passed House and Senate (HB1978ER)
- 02/20/23 House: Signed by Speaker
- 02/21/23 Senate: Signed by President
- 03/02/23 House: Enrolled Bill communicated to Governor on March 2, 2023
- 03/02/23 Governor: Governor's Action Deadline 11:59 p.m., March 27, 2023
- 03/17/23 Governor: Approved by Governor-Chapter 38 (effective 7/1/23)
- 03/17/23 Governor: Acts of Assembly Chapter text (CHAP0038)