§ 58.1-486.1 Definitions
“Owner” means the same as that term is defined in § 58.1-390.1. “Pass-through entity” means the same as that term is defined in § 58.1-390.1. “Taxable year” when used in regard to pass-through entities means the taxable year of the pass-through entity for federal income tax purposes. If a pass-through entity does not have a taxable year for federal tax purposes, its tax year for purposes of this article shall be the calendar year.
History
This law was first created in 2007. The record of its establishment is cataloged in chapter 796 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year.
2007, c. 796.