Income tax, state; reporting requirements for partnerships. (HB1417)
Introduced By
Del. Vivian Watts (D-Annandale)
Progress
✓ |
Introduced |
✓ |
Passed Committee |
✓ |
Passed House |
✓ |
Passed Senate |
✓ |
Signed by Governor |
☐ |
Became Law |
Description
Income tax; reporting requirements for partnerships. Alters the process by which partnerships report federal tax adjustments to the Department of Taxation. The federal Bipartisan Budget Act of 2015, P.L. 114-74, generally shifted the burden of reporting adjustments from a partnership's investors and owners to the partnership itself. The bill would allow a partnership to report to its owners and investors any information required under Virginia law or to report such information on behalf of its owners and investors. The bill establishes processes and deadlines by which partnerships are required to report such information, and pay any associated taxes, to the Department. Read the Bill »
Outcome
Bill Has Passed
History
Date | Action |
---|---|
01/08/2020 | Committee |
01/08/2020 | Prefiled and ordered printed; offered 01/08/20 20102759D |
01/08/2020 | Referred to Committee on Finance |
01/29/2020 | Assigned Finance sub: Subcommittee #3 |
01/30/2020 | Impact statement from TAX (HB1417) |
01/31/2020 | Subcommittee recommends reporting with substitute (8-Y 0-N) |
02/05/2020 | Committee substitute printed 20107357D-H1 |
02/05/2020 | Reported from Finance with substitute (22-Y 0-N) (see vote tally) |
02/06/2020 | Read first time |
02/07/2020 | Read second time |
02/07/2020 | Committee substitute agreed to 20107357D-H1 |
02/07/2020 | Engrossed by House - committee substitute HB1417H1 |
02/10/2020 | Read third time and passed House BLOCK VOTE (99-Y 0-N) |
02/10/2020 | VOTE: Block Vote Passage (99-Y 0-N) (see vote tally) |
02/11/2020 | Constitutional reading dispensed |
02/11/2020 | Referred to Committee on Finance and Appropriations |
02/17/2020 | Impact statement from TAX (HB1417H1) |
02/25/2020 | Reported from Finance and Appropriations (15-Y 0-N) (see vote tally) |
02/26/2020 | Constitutional reading dispensed (38-Y 0-N) (see vote tally) |
02/26/2020 | Read third time |
02/26/2020 | Passed Senate (40-Y 0-N) (see vote tally) |
03/03/2020 | Enrolled |
03/03/2020 | Bill text as passed House and Senate (HB1417ER) |
03/03/2020 | Signed by Speaker |
03/04/2020 | Impact statement from TAX (HB1417ER) |
03/04/2020 | Signed by President |
03/12/2020 | Enrolled Bill communicated to Governor on March 12, 2020 |
03/12/2020 | G Governor's Action Deadline 11:59 p.m., April 11, 2020 |
04/10/2020 | G Approved by Governor-Chapter 1030 (effective 7/1/20) |
04/10/2020 | G Acts of Assembly Chapter text (CHAP1030) |