Legislation
- Title
- Income Tax – Pass–Through Entities, Throwback Rule, and Combined Reporting
- Sponsored by
- Delegates Stewart, Palakovich Carr, Boyce, Carr, Charkoudian, Ebersole, Feldmark, Lehman, R. Lewis, Moon, Mosby, Shetty, Smith, Terrasa, Wells, Wilkins, and P. Young
- Status
- In the Senate - First Reading Budget and Taxation
- Analysis
- Fiscal and Policy Note (Revised)
Synopsis
Altering the State income tax imposed on certain pass-through entities; requiring each pass-through entity to pay the tax imposed with respect to certain shares of certain nonresident and nonresident entity members of the pass-through entity; requiring that certain sales of tangible personal property be attributed to the State for apportionment purposes under the corporate income tax if the corporation is not taxable in the state of the purchaser; etc.
Committees
- Original:
- Ways and Means
- Opposite:
- Budget and Taxation
Committee Testimony
Details
Introduced in a prior session as: HB1051 Session: 2018 Regular Session
Bill File Type: Regular
Effective Date(s): July 1, 2020, July 1, 2022
(
5-219 )
(
10-102.1, 10-311, 10-402, 10-402.1, 10-701.1, 10-703, 10-706, 10-811, 2-613.1, 2-614 )
Last Updated: 9/22/2020 1:51 PM