License tax, local; tax on net income of businesses. (HB371)

Introduced By

Del. Chris Head (R-Roanoke)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Local license tax. Requires that beginning with the 2015 license year, the optional local license (BPOL) tax would be imposed on the Virginia taxable income of corporations and the net income of sole proprietorships and pass-through entities. Under current law, the optional BPOL tax is imposed on the gross receipts or gross revenues of businesses. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/03/2014Committee
01/03/2014Prefiled and ordered printed; offered 01/08/14 14102439D
01/03/2014Referred to Committee on Finance
01/16/2014Impact statement from TAX (HB371)
01/17/2014Assigned Finance sub: Subcommittee #2
01/20/2014Impact statement from TAX (HB371)
01/29/2014Subcommittee recommends continuing to 2015
02/03/2014Continued to 2015 in Finance