2025 Regular Session • Virginia Legislature
HB552: Income tax, corporate; sourcing of sales other than sales of tangible personal property.
Legislative Summary
Corporate income tax; sourcing of sales other than sales of tangible personal property. Implements market-based corporate income tax sourcing for attributing sales, other than sales of tangible personal property, to Virginia beginning with taxable year 2025.
Demographic Impact
Overall analysis of equity impact
Neutral
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Bill History
1/9/2024
Prefiled and ordered printed; offered 01/10/24 24103622D
House of Delegates
1/9/2024
Referred to Committee on Finance
House of Delegates
2/2/2024
Impact statement from TAX (HB552)
House of Delegates
2/7/2024
Continued to 2025 in Finance (Voice Vote)
House of Delegates
11/18/2024
Left in Finance
House of Delegates
Status Information
Current Status
Introduced(1/9/2024)
Chamber
House of Delegates
Committee
Finance(House of Delegates)
Sponsors
Republican: 1
Primary Sponsor
Joseph McNamara
Republican