VirginiaNet operating losses; TAX, et al., to analyze treatment in Va. when compared to other states.
What it does
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.
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Where it stands
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Feb 11Passed by indefinitely in Finance and Appropriations (13-Y 0-N)Latest
- Vote recorded Passed by indefinitely in Finance and Appropriations (13-Y 0-N). Result: pass.Upper
- Feb 6Impact statement from TAX (HB2681)
- Feb 5Referred to Committee on Finance and AppropriationsMinor
- Feb 5Constitutional reading dispensed (on 1st reading)
- Feb 4Passed House (99-Y 0-N)Passed Senate
- Vote recorded Passed House (99-Y 0-N). Result: pass.Lower
- Vote recorded Read third time and passed House (97-Y 0-N). Result: pass.Lower
- Feb 4Reconsideration of passage agreed to by House
- Feb 4Read third time and passed House (97-Y 0-N)Passed House
- Feb 3Engrossed by House - committee substituteMajor
- Feb 3Finance Substitute agreed to
- Feb 3Read second timeMinor
- Jan 31Read first timeMinor
- Jan 29Committee substitute printed 25106127D-H1Major
- Vote recorded Reported from Finance with substitute (22-Y 0-N). Result: pass.Lower
- Jan 29Reported from Finance with substitute (22-Y 0-N)Minor
- Jan 28Subcommittee recommends reporting with substitute (7-Y 0-N)Major
- Vote recorded Subcommittee recommends reporting with substitute (7-Y 0-N). Result: pass.Lower
- Jan 26Impact statement from TAX (HB2681)
- Jan 25Assigned Finance sub: Subcommittee #2Minor
- Jan 16Referred to Committee on FinanceMinor
- Jan 16Presented and ordered printed 25104650DIntroduced
- Feb 11Passed by indefinitely in Finance and Appropriations (13-Y 0-N)Latest