Income tax laws; conformity to Internal Revenue Code. (SB179)
Introduced By
Sen. Walter Stosch (R-Glen Allen)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax laws; conformity to Internal Revenue Code. Advances conformity with federal income tax laws to December 31, 2009, for taxable year 2009 and to December 31, 2010, for taxable year 2010, with three additional exceptions.
The bill also provides that amendments to the Internal Revenue will not apply for Virginia tax purposes in taxable years beginning in the calendar year in which the amendments are enacted if the Tax Commissioner determines that (i) the amendment, or combination of related amendments, would reduce Virginia tax revenue by $5 million or more in any fiscal year, or (ii) any group of amendments would together reduce Virginia tax revenue by $25 million or more in any fiscal year. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/11/2010 | Prefiled and ordered printed with emergency clause; offered 01/13/10 10103592D |
01/11/2010 | Referred to Committee on Finance |
01/17/2010 | Impact statement from TAX (SB179) |
02/10/2010 | Continued to 2011 in Finance (15-Y 0-N) (see vote tally) |
Comments
The VSCPA supports this bill. For more information please visit http://www.vscpa.com/Content/VSCPA/LegislativeRegulatory/2010SessionWatch.aspx.