Jason Ballard
- Republican
- Delegate
- District 42
Primary
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 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.
A BILL to direct the Department of Taxation to convene a work group to analyze the treatment of net operating losses in Virginia when compared to other states; report.
Passed by indefinitely in Finance and Appropriations (13-Y 0-N)
Impact statement from TAX (HB2681)
Referred to Committee on Finance and Appropriations
Constitutional reading dispensed (on 1st reading)
Reconsideration of passage agreed to by House
Passed House (99-Y 0-N)
Read third time and passed House (97-Y 0-N)
Finance Substitute agreed to
Read second time
Engrossed by House - committee substitute
Read first time
Committee substitute printed 25106127D-H1
Reported from Finance with substitute (22-Y 0-N)
Subcommittee recommends reporting with substitute (7-Y 0-N)
Impact statement from TAX (HB2681)
Assigned Finance sub: Subcommittee #2
Presented and ordered printed 25104650D
Referred to Committee on Finance
| Bill Text Versions | Format |
|---|---|
| Finance Substitute | HTML PDF |
| Introduced | HTML PDF |
| Document | Format |
|---|---|
| Impact statement from TAX (HB2681) | PDF PDF |
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