{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/58.1-399.4.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/58.1-399.4.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/58.1-399.4.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/58.1-399.4.html"}],"law_id":59939,"edition_id":1,"section_id":59939,"structure_id":15666,"section_number":"58.1-399.4","catch_line":"Effect of election","history":"2020, c. 1030.","full_text":"A\n\nIf a partnership or partner makes an election pursuant to § 58.1-399.1 or 58.1-399.3, such election shall not be revocable by such partnership or partner. However, the Department may make a discretionary determination that allows such election to be revoked.B\n\nIf properly reported and paid by the audited partnership or tiered partner, the amount determined pursuant to § 58.1-399.1 or 58.1-399.3 shall be treated as paid in lieu of taxes owed by a direct or indirect partner, to the extent applicable, on the final federal adjustments. A direct partner or indirect partner shall be prohibited from claiming any subtraction, deduction, credit, or refund for such amount. This section shall not prohibit a partner that is a direct partner and a resident partner from (i) claiming a credit against taxes paid to Virginia pursuant to § 58.1-332 or (ii) claiming a credit for any amount paid by the audited partnership or tiered partner on the resident partner’s behalf to another jurisdiction in accordance with the provisions of § 58.1-332.","order_by":null,"text":{"0":{"id":219502,"text":"If a partnership or partner makes an election pursuant to § 58.1-399.1 or 58.1-399.3, such election shall not be revocable by such partnership or partner. However, the Department may make a discretionary determination that allows such election to be revoked.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":219503,"text":"If properly reported and paid by the audited partnership or tiered partner, the amount determined pursuant to § 58.1-399.1 or 58.1-399.3 shall be treated as paid in lieu of taxes owed by a direct or indirect partner, to the extent applicable, on the final federal adjustments. A direct partner or indirect partner shall be prohibited from claiming any subtraction, deduction, credit, or refund for such amount. This section shall not prohibit a partner that is a direct partner and a resident partner from (i) claiming a credit against taxes paid to Virginia pursuant to § 58.1-332 or (ii) claiming a credit for any amount paid by the audited partnership or tiered partner on the resident partner’s behalf to another jurisdiction in accordance with the provisions of § 58.1-332.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A"}},"ancestry":[{"id":15666,"edition_id":1,"name":"Reporting Adjustments to Federal Taxable Income from Federal Partnership Audits","identifier":"9.1","label":"article","depth":4,"order_by":1,"parent_id":13152,"metadata":{},"date_created":"2026-06-26 03:57:38","date_modified":"2026-06-26 03:57:38","permalink":{"id":254497,"object_type":"structure","relational_id":15666,"identifier":"9.1","token":"58.1\/I\/3\/9.1","url":"\/58.1\/I\/3\/9.1\/","edition_id":1,"permalink":0,"preferred":1}},{"id":13152,"edition_id":1,"name":"Income Tax","identifier":"3","label":"chapter","depth":3,"order_by":1,"parent_id":12837,"metadata":{},"date_created":"2026-06-26 03:44:21","date_modified":"2026-06-26 03:44:21","permalink":{"id":253267,"object_type":"structure","relational_id":13152,"identifier":"3","token":"58.1\/I\/3","url":"\/58.1\/I\/3\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12837,"edition_id":1,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":1,"parent_id":12703,"metadata":{},"date_created":"2026-06-26 03:43:55","date_modified":"2026-06-26 03:43:55","permalink":{"id":252075,"object_type":"structure","relational_id":12837,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12703,"edition_id":1,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:49","date_modified":"2026-06-26 03:43:49","permalink":{"id":251959,"object_type":"structure","relational_id":12703,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":67971,"structure_id":15666,"section_number":"58.1-396","catch_line":"Definitions","url":"\/58.1-396\/","token":"58.1\/I\/3\/9.1\/58.1-396","metadata":false},{"id":65681,"structure_id":15666,"section_number":"58.1-397","catch_line":"Reporting requirement; administrative adjustment requests","url":"\/58.1-397\/","token":"58.1\/I\/3\/9.1\/58.1-397","metadata":false},{"id":64151,"structure_id":15666,"section_number":"58.1-398","catch_line":"State partnership representative","url":"\/58.1-398\/","token":"58.1\/I\/3\/9.1\/58.1-398","metadata":false},{"id":74602,"structure_id":15666,"section_number":"58.1-399","catch_line":"Reporting and payment requirements for a partnership subject to a final federal adjustment","url":"\/58.1-399\/","token":"58.1\/I\/3\/9.1\/58.1-399","metadata":false},{"id":79092,"structure_id":15666,"section_number":"58.1-399.1","catch_line":"Elective payment by a partnership","url":"\/58.1-399.1\/","token":"58.1\/I\/3\/9.1\/58.1-399.1","metadata":false},{"id":77477,"structure_id":15666,"section_number":"58.1-399.2","catch_line":"Tiered partners","url":"\/58.1-399.2\/","token":"58.1\/I\/3\/9.1\/58.1-399.2","metadata":false},{"id":68782,"structure_id":15666,"section_number":"58.1-399.3","catch_line":"Alternative reporting and payment method","url":"\/58.1-399.3\/","token":"58.1\/I\/3\/9.1\/58.1-399.3","metadata":false},{"id":59939,"structure_id":15666,"section_number":"58.1-399.4","catch_line":"Effect of election","url":"\/58.1-399.4\/","token":"58.1\/I\/3\/9.1\/58.1-399.4","metadata":false},{"id":87004,"structure_id":15666,"section_number":"58.1-399.5","catch_line":"Failure to pay","url":"\/58.1-399.5\/","token":"58.1\/I\/3\/9.1\/58.1-399.5","metadata":false},{"id":60112,"structure_id":15666,"section_number":"58.1-399.6","catch_line":"De minimis exception","url":"\/58.1-399.6\/","token":"58.1\/I\/3\/9.1\/58.1-399.6","metadata":false},{"id":72733,"structure_id":15666,"section_number":"58.1-399.7","catch_line":"Administration","url":"\/58.1-399.7\/","token":"58.1\/I\/3\/9.1\/58.1-399.7","metadata":false}],"previous_section":{"id":68782,"structure_id":15666,"section_number":"58.1-399.3","catch_line":"Alternative reporting and payment method","url":"\/58.1-399.3\/","token":"58.1\/I\/3\/9.1\/58.1-399.3","metadata":false},"next_section":{"id":87004,"structure_id":15666,"section_number":"58.1-399.5","catch_line":"Failure to pay","url":"\/58.1-399.5\/","token":"58.1\/I\/3\/9.1\/58.1-399.5","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-399.4\/","history_text":"

This law was first created in 2020. The record of its establishment is cataloged in chapter 1030<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":[{"id":85325,"section_number":"58.1-332","catch_line":"Credits for taxes paid other states","order_by":null,"url":"\/58.1-332\/"},{"id":79092,"section_number":"58.1-399.1","catch_line":"Elective payment by a partnership","order_by":null,"url":"\/58.1-399.1\/"},{"id":68782,"section_number":"58.1-399.3","catch_line":"Alternative reporting and payment method","order_by":null,"url":"\/58.1-399.3\/"}],"permalink":{"id":254527,"object_type":"law","relational_id":59939,"identifier":"58.1-399.4","token":"58.1\/I\/3\/9.1\/58.1-399.4","url":"\/58.1-399.4\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/58.1-399.4\/","token":"58.1\/I\/3\/9.1\/58.1-399.4","dublin_core":{"Title":"Effect of election","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-399.4","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> If a partnership<\/span> or partner<\/span> makes an election pursuant to § 58.1-399.1<\/a> or 58.1-399.3<\/a>, such election shall not be revocable by such partnership<\/span> or partner<\/span>. However, the Department<\/span> may make a discretionary determination that allows such election to be revoked. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> If properly reported and paid by the audited partnership<\/span> or tiered partner<\/span>, the amount determined pursuant to § 58.1-399.1<\/a> or 58.1-399.3<\/a> shall be treated as paid in lieu of taxes owed by a direct or indirect partner, to the extent applicable, on the final federal adjustments<\/span>. A direct partner or indirect partner shall be prohibited from claiming any subtraction, deduction, credit, or refund for such amount. This section shall not prohibit a partner that is a direct partner and a resident<\/span> partner from (i) claiming a credit against taxes paid to Virginia pursuant to § 58.1-332<\/a> or (ii) claiming a credit for any amount paid by the audited partnership<\/span> or tiered partner<\/span> on the resident<\/span> partner’s behalf to another jurisdiction<\/span> in accordance with the provisions of § 58.1-332<\/a>. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nEFFECT OF ELECTION (\u00a7 58.1-399.4)\n\nA. If a partnership or partner makes an election pursuant to § 58.1-399.1\nor 58.1-399.3, such election shall not be revocable by such partnership or\npartner. However, the Department may make a discretionary determination that\nallows such election to be revoked.\n\nB. If properly reported and paid by the audited partnership or tiered partner,\nthe amount determined pursuant to § 58.1-399.1 or 58.1-399.3 shall be\ntreated as paid in lieu of taxes owed by a direct or indirect partner, to the\nextent applicable, on the final federal adjustments. A direct partner or\nindirect partner shall be prohibited from claiming any subtraction, deduction,\ncredit, or refund for such amount. This section shall not prohibit a partner\nthat is a direct partner and a resident partner from (i) claiming a credit\nagainst taxes paid to Virginia pursuant to § 58.1-332 or (ii) claiming a\ncredit for any amount paid by the audited partnership or tiered partner on the\nresident partner’s behalf to another jurisdiction in accordance with the\nprovisions of § 58.1-332.\n\nHISTORY: 2020, c. 1030.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}