VA HB552 | 2024 | Regular Session

Virginia House Bill 552 (Prior Session Legislation)

Status

Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 9 2024 - 25% progression
Action: 2024-02-07 - Continued to 2025 in Finance by voice vote
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Summary

Corporate income tax; sourcing of sales other than sales of tangible personal property. Implements market-based corporate income tax sourcing for attributing sales, other than sales of tangible personal property, to Virginia beginning with taxable year 2025.

Title

Income tax, Corporate; sourcing of sales other than sales of tangible personal property.

History

Date	Chamber	Action
2024-02-07	House	Continued to 2025 in Finance by voice vote
2024-01-09	House	Referred to Committee on Finance
2024-01-09	House	Prefiled and ordered printed; offered 01/10/24 24103622D

Subjects

Corporations
Personal Property and Personal Property Tax
Taxation

Code Citations

Chapter	Article	Section	Citation Type	Statute Text
58	1	416	(n/a)	See Bill Text

Virginia State Sources

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?241+sum+HB552
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?241+ful+HB552+hil
Supplement	https://lis.virginia.gov/cgi-bin/legp604.exe?241+oth+HB552F161+PDF