Virginia Regulatory Town Hall
Department of Taxation
Guidance Document Information
Title Draft Debt Buyer Apportionment Guidelines
Document ID Corporate
Summary During the 2018 Session, the Virginia General Assembly enacted House Bill 798 (2018 Acts of Assembly, Chapter 807), which requires multistate debt buyers to apportion their income to Virginia using a special method of apportionment (“Debt Buyer Apportionment”). Under Debt Buyer Apportionment, debt buyers are required to use a single factor method of apportionment based on sales and market-based sourcing methods to source certain sales that consist of money recovered on debt. These draft guidelines are published by the Department of Taxation (“the Department”) to provide preliminary guidance to taxpayers regarding the apportionment method and market-based sourcing methods that apply to debt buyers, as required by the second enactment clause of 2018 House Bill 798.
Effective Date 1/8/2019
pdf View document text     Posted On 12/3/2020                 Document on Town Hall
Explanation or Citations See 2018 House Bill 798. Final guidelines will be promulgated and made publicly available no later than December 31, 2019. Effective February 6, 2020, these draft guidelines are superseded by the Department's Final Debt Buyer Apportionment Guidelines (Document ID 6741).

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