Pass-through entities; penalty for failure to file timely return. (SB99)
Introduced By
Sen. Walter Stosch (R-Glen Allen)
Progress
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Introduced |
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Passed Committee |
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Passed House |
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Passed Senate |
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Signed by Governor |
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Became Law |
Description
Pass-through entities; penalties. Provides that the penalty on a pass-through entity for the failure to file a timely return when no tax is due would be equal to the federal penalty for the failure to file a timely return. The bill would also provide that penalties on pass-through entities for the failure to file a timely return would begin to accrue upon the expiration of any extension of time for filing of the return. View Full Text »
Outcome
Bill Has Failed
View Bill's History
Comments
Excellent bill. Hope it passes. The current penalty is exorbitant.