Virginia House Bill 966 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 12 2016 - 25% progression, died in committee
Action: 2016-12-01 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Apportionment of income; corporate income tax. Makes Apportionment of income; corporate income tax. Makes several changes to the current method used by multistate corporations to apportion income to Virginia for purposes of the corporate income tax, including (i) establishing sales as the sole factor to be used in apportioning income, with such single sales factor apportionment phased in and first effective beginning with taxable year 2019; (ii) adopting market-based sourcing as the approach for sourcing sales of services and nontangible personal property to Virginia; and (iii) eliminating the requirements placed on manufacturing companies electing single sales factor apportionment to maintain certain

Income tax, corporate; apportionment of income to Virginia.

Del. Glenn Davis [R]

Del. David Albo [R]

Date	Chamber	Action
2016-12-01	House	Left in Finance
2016-02-15	House	Continued to 2017 in Finance by voice vote
2016-02-10	House	Subcommittee recommends continuing to 2017 by voice vote
2016-02-09	House	Assigned Finance sub: Subcommittee #1
2016-01-12	House	Referred to Committee on Finance
2016-01-12	House	Prefiled and ordered printed; offered 01/13/16 16103221D

Chapter	Article	Section	Citation Type	Statute Text
58	1	408	(n/a)	See Bill Text
58	1	414	(n/a)	See Bill Text
58	1	416	(n/a)	See Bill Text
58	1	422	(n/a)	See Bill Text
58	1	422.1	(n/a)	See Bill Text
58	1	422.2	(n/a)	See Bill Text

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?171+sum+HB966
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?171+ful+HB966+hil