VirginiaSB14262025 Regular SessionSenate

Income tax, corporate and state; defines "entire net income."

Sponsored By: Lamont Bagby (Democratic)

Failed

Summary

Corporate income tax; Virginia taxable income; definitions. Defines, for purposes of income tax, "entire net income" as the total net income from all sources that a taxpayer is required to report for purposes of the federal income tax. The bill further defines "net operating loss" as the excess of any allowable income tax deductions over the gross income used in computing entire net income.

Finance and Appropriations

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & Cosponsors

Sponsor

  • Lamont Bagby

    Democratic • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Left in Finance and Appropriations

    2/5/2025Senate
  2. Impact statement from TAX (SB1426)

    1/28/2025Senate
  3. Referred to Committee on Finance and Appropriations

    1/16/2025Senate
  4. Presented and ordered printed 25104676D

    1/16/2025Senate

Bill Text

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