2017 Uncodified Acts

2017 Virginia Uncodified Acts
7/25/2017

CHAPTER 50

An Act to require the Department of Taxation to promulgate regulations that clarify the methodology for determining deductible gross receipts attributable to business conducted in another state or a foreign country.

[H 1961]

Approved February 20, 2017

 

Be it enacted by the General Assembly of Virginia:

1. § 1. The Department of Taxation shall promulgate regulations that clarify its interpretation of subdivision B 2 of § 58.1-3732 of the Code of Virginia regarding the methodology for determining deductiblegross receipts attributable to business conducted in another state or a foreign country. The regulations shall be based on previous Rulings of the Tax Commissioner regarding subdivision B 2 of § 58.1-3732 and the decision of the Supreme Court of Virginia in The Nielsen Company, LLC v. County Board of Arlington County, 289 Va. 79 (2015).