Income tax, state; withholding taxes, penalties. (HB399)
Introduced By
Del. Rip Sullivan (D-Arlington)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax withholding; employer penalties. Codifies provisions in the current general appropriation act that (i) require all employers to electronically file withholding tax returns and (ii) require the annual withholding tax return and employee withholding statements be furnished to the Department of Taxation by January 31 (which date appears in the Code of Virginia as February 28). The general appropriation act allows a waiver from each requirement if the Tax Commissioner finds it creates an unreasonable burden on the employer. The bill establishes new penalties on employers for not filing electronically or not furnishing employee withholding statements by January 31. A penalty of $5 per month is imposed for each delinquent employee withholding statement, not to exceed $30 per withholding statement. A penalty is also imposed for not filing employee withholding statements electronically, at a rate of (i) $5 per employee statement for employers with not more than 50 employees, (ii) $10 per statement for employers with more than 50 but less than 100 employees, and (iii) $20 per statement for employers with 100 or more employees. The bill applies to withholding tax returns and employee withholding statements relating to taxable years beginning on or after January 1, 2016. Read the Bill »
Outcome
History
Date | Action |
---|---|
01/06/2016 | Committee |
01/06/2016 | Prefiled and ordered printed; offered 01/13/16 16100473D |
01/06/2016 | Referred to Committee on Finance |
01/15/2016 | Assigned to sub: Subcommittee Subcommittee #1 |
01/15/2016 | Assigned to sub: Subcommittee #1 |
01/15/2016 | Assigned Finance sub: Subcommittee #1 |
01/19/2016 | Impact statement from TAX (HB399) |
01/20/2016 | Subcommittee recommends laying on the table |
02/17/2016 | Left in Finance |