HB551 - Income tax, corporate; apportionment of income using single sales factor method.
Virginia - 2024 Regular Session
Introduced byJoseph P. McNamara
Last updated 9 months ago
1 Co-Sponsor
Corporate income tax; apportionment. Allows, for taxable years beginning on and after January 1, 2024, for corporations to apportion their income to the Commonwealth using the single sales factor method. The bill provides that such apportionment method shall be used only if the corporation makes an election to do so.
STATUS
Introduced
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