HB2681
Net operating losses; TAX, et al., to analyze treatment in Va. when compared to other states.
Summary
As Passed House of Origin. Department of Taxation; corporate tax returns involving net operating losses; work group; report.
Directs the Department of Taxation to convene a work group composed of tax practitioners experienced in the preparation of corporate tax returns involving net operating losses to study the treatment of net operating losses in Virginia when compared to other states and to make recommendations to simplify such treatment in ... (More) Virginia. The bill directs the work group to complete its meetings by October 1, 2025, and the Department to submit a report of the work group's findings and recommendations to the Chairmen of the Senate Committee on Finance and Appropriations, the House Committee on Finance, and the House Committee on Appropriations by November 1, 2025. (Less)-
Bill History
- 01/16/2025 - House: Presented and ordered printed 25104650D
- 01/16/2025 - House: Referred to Committee on Finance
- 01/25/2025 - House: Assigned Finance sub: Subcommittee #2
- 01/25/2025 - House: Placed on Finance Agenda
- 01/26/2025 - House: Impact statement from TAX (HB2681)
- 01/28/2025 - House: Subcommittee recommends reporting with substitute (7-Y 0-N)
- 01/28/2025 - House: Placed on Finance Agenda
- 01/29/2025 - House: Reported from Finance with substitute (22-Y 0-N)
- 01/29/2025 - House: Committee substitute printed 25106127D-H1
- 01/31/2025 - House: Read first time
- 02/03/2025 - House: Read second time
- 02/03/2025 - House: Finance Substitute agreed to
- 02/03/2025 - House: Engrossed by House - committee substitute
- 02/04/2025 - House: Read third time and passed House (97-Y 0-N)
- 02/04/2025 - House: Reconsideration of passage agreed to by House
- 02/04/2025 - House: Passed House (99-Y 0-N)
- 02/05/2025 - Senate: Constitutional reading dispensed (on 1st reading)
- 02/05/2025 - Senate: Referred to Committee on Finance and Appropriations
- 02/06/2025 - House: Impact statement from TAX (HB2681)
- 02/11/2025 - Senate: Passed by indefinitely in Finance and Appropriations (13-Y 0-N)
