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

DateAction
01/06/2010Prefiled and ordered printed; offered 01/13/10 10101742D
01/06/2010Referred to Committee on Finance
01/26/2010Stricken at request of Patron in Finance (15-Y 0-N) (see vote tally)

Comments

Vivian Paige writes:

Excellent bill. Hope it passes. The current penalty is exorbitant.