Pass-through entities; penalty for failure to file timely return. (SB99)
Introduced By
Sen. Walter Stosch (R-Glen Allen)
Progress
✓ |
Introduced |
☐ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
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. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/06/2010 | Prefiled and ordered printed; offered 01/13/10 10101742D |
01/06/2010 | Referred to Committee on Finance |
01/26/2010 | Stricken at request of Patron in Finance (15-Y 0-N) (see vote tally) |
Comments
Excellent bill. Hope it passes. The current penalty is exorbitant.