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HB798

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

Status:
Enacted

Chief Patron:
Glenn Davis (R)

Session:
2018 Regular Session

Summary

As Introduced. 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. (Less)

  • Bill History

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

Full text and vote history:

Virginia Legislative Information System

RichmondSunlight.com

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