Virginia House Bill 442 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on January 5 2014 - 25% progression, died in committee
Action: 2014-02-12 - Left in Finance
Pending: House Finance Committee
Text: Latest bill text (Prefiled) [HTML]

Corporate income tax; market-based sourcing. Changes the way the sales factor is determined, for purposes of the corporate income tax, so that it will be market-based sourcing rather than costs of performance, which is the current method used. The provisions of the bill would become effective beginning on January 1 of the year following the calendar year in which the Department of Taxation publishes guidelines to implement market-based sourcing, but in no event later than January 1, 2016.

Income tax, corporate; market-based sourcing.

Del. Glenn Davis [R]

Date	Chamber	Action
2014-02-12	House	Left in Finance
2014-01-24	House	Subcommittee recommends laying on the table by voice vote
2014-01-22	House	Assigned Finance sub: Subcommittee #3
2014-01-05	House	Referred to Committee on Finance
2014-01-05	House	Prefiled and ordered printed; offered 01/08/14 14102326D

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

Type	Source
Summary	https://lis.virginia.gov/cgi-bin/legp604.exe?141+sum+HB442
Text	https://lis.virginia.gov/cgi-bin/legp604.exe?141+ful+HB442+hil