Income tax, state; apportionment of sales for debt buyers. (HB798)

Introduced By

Del. Glenn Davis (R-Virginia Beach) with support from co-patron Del. Danny Marshall (R-Danville)


Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law


Income tax; apportionment of sales for debt buyers. Requires debt buyers, defined in the bill, to apportion their income from the collection of debt to Virginia based on a single sales factor starting with taxable year 2019. Generally, under current law, a taxpayer apportions its income to Virginia based on the ratio of its property, payroll, and sales in Virginia to the same factors in all other states. Current law requires multistate businesses to apportion income from sales, other than sales of tangible personal property, to Virginia if the income-producing activity is performed only in Virginia or a greater proportion of the income-producing activity is performed in Virginia than in any other state. The bill provides that all income recovered on debt from a person or entity residing in the Commonwealth shall be apportioned to the Commonwealth for income tax purposes. Read the Bill »


Bill Has Passed


01/09/2018Prefiled and ordered printed; offered 01/10/18 18102177D
01/09/2018Referred to Committee on Finance
01/30/2018Impact statement from TAX (HB798)
01/30/2018Assigned Finance sub: Subcommittee #2
01/31/2018Subcommittee recommends reporting (8-Y 0-N)
02/07/2018Reported from Finance (21-Y 0-N) (see vote tally)
02/09/2018Read first time
02/12/2018Read second time and engrossed
02/13/2018Read third time and passed House (95-Y 5-N)
02/13/2018VOTE: PASSAGE (95-Y 5-N) (see vote tally)
02/14/2018Constitutional reading dispensed
02/14/2018Referred to Committee on Finance
02/26/2018Impact statement from TAX (HB798)
02/27/2018Reported from Finance (16-Y 0-N) (see vote tally)
02/28/2018Constitutional reading dispensed (40-Y 0-N) (see vote tally)
02/28/2018Read third time
02/28/2018Passed Senate (40-Y 0-N) (see vote tally)
03/01/2018Bill text as passed House and Senate (HB798ER)
03/01/2018Signed by Speaker
03/03/2018Signed by President
03/05/2018Impact statement from TAX (HB798ER)
03/07/2018Enrolled Bill communicated to Governor on March 7, 2018
03/07/2018G Governor's Action Deadline Midnight, April 9, 2018
04/09/2018G Approved by Governor-Chapter 807 (effective 7/1/18)
04/09/2018G Acts of Assembly Chapter text (CHAP0807)