Income tax, corporate; requires retail companies to use single-sales factor apportionment formula. (HB154)
Introduced By
Del. Lee Ware (R-Powhatan) with support from co-patron Del. Chris Peace (R-Mechanicsville)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Apportionment of corporate income tax; retail companies. Requires retail companies to use an apportionment formula for payment of income taxes of multiplying their income by the sales factor. The provisions of the bill would be effective beginning July 1, 2012, and would be phased in with the apportionment formula having a 100 percent sales factor by 2015. Read the Bill »
Outcome
Bill Has Passed
History
| Date | Action |
|---|---|
| 01/05/2012 | Committee |
| 01/05/2012 | Prefiled and ordered printed; offered 01/11/12 12101414D |
| 01/05/2012 | Referred to Committee on Finance |
| 01/12/2012 | Assigned Finance sub: Subcommittee #2 |
| 01/31/2012 | Impact statement from TAX (HB154) |
| 02/01/2012 | Subcommittee recommends reporting with amendment(s) (9-Y 0-N) |
| 02/06/2012 | Reported from Finance with amendment (20-Y 2-N) (see vote tally) |
| 02/07/2012 | Read first time |
| 02/08/2012 | Read second time |
| 02/08/2012 | Committee amendment agreed to |
| 02/08/2012 | Engrossed by House as amended HB154E |
| 02/08/2012 | Printed as engrossed 12101414D-E |
| 02/09/2012 | Read third time and passed House (97-Y 1-N) |
| 02/09/2012 | VOTE: PASSAGE (97-Y 1-N) (see vote tally) |
| 02/10/2012 | Constitutional reading dispensed |
| 02/10/2012 | Referred to Committee on Finance |
| 02/14/2012 | Impact statement from TAX (HB154E) |
| 02/15/2012 | Reported from Finance (15-Y 0-N) (see vote tally) |
| 02/16/2012 | Constitutional reading dispensed (39-Y 0-N) (see vote tally) |
| 02/17/2012 | Read third time |
| 02/17/2012 | Passed Senate (40-Y 0-N) (see vote tally) |
| 02/21/2012 | Enrolled |
| 02/21/2012 | Bill text as passed House and Senate (HB154ER) |
| 02/21/2012 | Impact statement from TAX (HB154ER) |
| 02/21/2012 | Signed by Speaker |
| 02/22/2012 | Signed by President |
| 03/06/2012 | G Approved by Governor-Chapter 86 (effective 7/1/12) |
| 03/06/2012 | G Acts of Assembly Chapter text (CHAP0086) |