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2010 SESSION
SB 545 Income tax laws; conformity to Internal Revenue Code.
Introduced by: Charles J. Colgan | all patrons ... notes | add to my profiles
SUMMARY AS PASSED SENATE: (all summaries)
Conformity with Internal Revenue Code. Advances the date as of which Virginia's system of taxation conforms with the Internal Revenue Code (IRC) from December 31, 2008, to December 31, 2009, and adds two new exceptions: the deferral of certain income under § 108 (i) of the IRC for taxable year 2009 is only allowed ratably through taxable year 2011 and the deferral is not allowed for taxable years other than 2009, and deconformity from the original issue discount on applicable high yield discount obligations under IRC § 163 (3)(5)(f). Taxpayers are preparing and filing returns during the General Assembly Session, therefore, the bill contains an emergency clause.
FULL TEXT
- 01/13/10 Senate: Prefiled and ordered printed with emergency clause; offered 01/13/10 10102666D pdf | impact statement
- 02/16/10 Senate: Printed as engrossed 10102666D-E pdf | impact statement
AMENDMENTS
HISTORY
- 01/13/10 Senate: Prefiled and ordered printed with emergency clause; offered 01/13/10 10102666D
- 01/13/10 Senate: Referred to Committee on Finance
- 02/10/10 Senate: Reported from Finance with amendment (15-Y 0-N)
- 02/11/10 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/12/10 Senate: Read second time
- 02/12/10 Senate: Reading of amendment waived
- 02/12/10 Senate: Committee amendment agreed to
- 02/12/10 Senate: Passed by for the day
- 02/15/10 Senate: Read second time
- 02/15/10 Senate: Passed by for the day
- 02/16/10 Senate: Passed by temporarily
- 02/16/10 Senate: Read second time
- 02/16/10 Senate: Committee amendment reconsidered (39-Y 0-N)
- 02/16/10 Senate: Committee amendment rejected
- 02/16/10 Senate: Amendment #1 by Senator Saslaw withdrawn
- 02/16/10 Senate: Reading of amendment waived
- 02/16/10 Senate: Amendment #3 by Senator Colgan rejected
- 02/16/10 Senate: Reading of amendment waived
- 02/16/10 Senate: Amendment #2 by Senator Saslaw agreed to
- 02/16/10 Senate: Committee amendment reconsidered (40-Y 0-N)
- 02/16/10 Senate: Committee amendment agreed to
- 02/16/10 Senate: Engrossed by Senate as amended SB545E
- 02/16/10 Senate: Printed as engrossed 10102666D-E
- 02/16/10 Senate: Constitutional reading dispensed (40-Y 0-N)
- 02/16/10 Senate: Passed Senate (40-Y 0-N)
- 02/17/10 House: Placed on Calendar
- 02/17/10 House: Read first time
- 02/17/10 House: Referred to Committee on Appropriations
- 03/14/10 House: Left in Appropriations