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General Notice: Draft Certified Company Apportionment Guidelines for Business Conducted in Certain Disadvantaged Localities
Opened on 2/4/2019 and
closes at 11:59pm on 3/6/2019
During the 2018 Session, the Virginia General Assembly enacted House Bill 222 (2018 Acts of Assembly, Chapter 802) and Senate Bill 883 (2018 Acts of Assembly, Chapter 801), which allow certain companies that have been certified by the Virginia Economic Development Partnership Authority (“certified companies”) to decrease the amount of income taxed by Virginia by making specific modifications to their apportionment of income (“certified company apportionment”).
The public comment period for the draft guidelines will begin on February 4, 2019 and end on March 5, 2019. After such date, the guidelines will become final and effective.
The draft guidelines have been posted with the Department of Taxation's Guidance Documents on the Virginia Regulatory Town Hall website at http://townhall.virginia.gov/L/ViewGDoc.cfm?gdid=6561.
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