Action:
Amend Bank Franchise Regulation to Conform to Law Changes and Existing Policy
Action 4624
General Information
| Action Summary |
This regulatory action will amend Bank Franchise Tax Regulation sections 23VAC10-330-20 relating to the computation of net capital and relating to deductions from gross capital. This action is necessary to reflect legislative changes affecting the calculation of gross capital and deductions. Some of this language is also unnecessary. Therefore, this regulatory action will repeal Bank Franchise Tax Regulation language that is unnecessary and will update all other provisions to conform legislative changes and current tax policy. The amendment of this section does not reflect a change in existing tax policy and will have no impact on the administration of the tax. |
| Chapters Affected |
Only affects this chapter.
|
| Executive Branch Review |
This action will go through the normal Executive Branch Review process.
|
| RIS Project |
Yes [004854] |
| Associated Mandates |
|
| New Periodic Review |
This action will not be used to conduct a new periodic review.
|
Stages
Stages associated with this regulatory action.
| Stage ID |
Stage Type |
Status |
|
7655
|
Fast-Track
|
Stage complete. This regulation became effective on 10/23/2017. |
Contact Information
|
Name / Title:
|
James Savage
/
Tax Policy Analyst
|
|
Address:
|
P.O Box 27185
Richmond, VA 23261
|
|
Email Address:
|
james.savage@tax.virginia.gov
|
|
Phone:
|
(804)371-2301
FAX: ()-
TDD: ()-
|
