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SB1238: Non-resident taxpayers; withholding tax paid by pass-through entities.

Chief Patron

Sen. Mark Obenshain (R-26)

Mark Obenshain (R-26)
Served: 2004–

Progress

	Introduced
	Passed Committee
	Passed House
	Passed Senate
	Signed by Governor
	Became Law

Status

03/23/2007: signed by governor

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Summary

Withholding tax; pass-through entities. Requires pass-through entities to withhold and remit to the Tax Commissioner an amount equal to four percent of the allocable Virginia taxable income of all nonresident owners of the pass-through entity. A nonresident owner may take as a credit against Virginia income tax due his or its allocable Virginia income tax withheld and remitted to the Tax Commissioner by the pass-through entity.

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