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1994 SESSION

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SB 185 Income tax conformity.

Introduced by: Walter A. Stosch | all patrons    ...    notes | add to my profiles

SUMMARY:

Income tax conformity. Eliminates Virginia's non-conformity to the federal income tax structure for taxable year 1993. This change will eliminate the need for businesses to keep two sets of books -- one for federal tax purposes and one for state tax purposes. The 1993 General Assembly deconformed Virginia's income tax for one year due to uncertainty regarding federal changes. The bill contains an emergency clause and has passed both houses of the General Assembly.


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