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HB288

Recordation tax; exemptions, certain limited liability companies & limited or general partnerships.

Status:
Killed

Chief Patron:
Jason Miyares (R)

Session:
2018 Regular Session

Summary

As Introduced. Recordation tax exemption; certain limited liability companies and limited or general partnerships.

Provides a recordation tax exemption for deeds transferring property (i) to a subsidiary limited liability company or partnership from its parent limited liability company or partnership, (ii) from a subsidiary limited liability company or partnership to a parent limited liability company or partnership, (iii) to a limited liability company or partnership from a commonly owned limited liability company or partnership, or (iv) to a limited liability company or limited or general partnership from a commonly owned limited liability company or limited or general partnership, if the transaction qualifies for nonrecognition of gain or loss under the Internal Revenue Code and if the transfer is not a precursor or subsequent to a transfer of control of the assets of the company to avoid recordation taxes. (Less)

  • Bill History

  • 01/03/2018 - House: Prefiled and ordered printed; offered 01/10/18 18102608D
  • 01/03/2018 - House: Referred to Committee on Finance
  • 01/19/2018 - House: Impact statement from DHCD/CLG (HB288)
  • 01/26/2018 - House: Impact statement from TAX (HB288)
  • 01/30/2018 - House: Assigned Finance sub: Subcommittee #1
  • 01/31/2018 - House: Subcommittee recommends continuing to 2019
  • 02/13/2018 - House: Left in Finance

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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