Virginia Decodedhttps://vacode.org8514558.1-443Prohibition of worldwide consolidation or combination2025TaxationTaxes Administered by the Department of TaxationIncome TaxAccounting, Returns, Procedures for Corporations

Notwithstanding any other provisions of this chapter, the Department shall not require, and no corporation may elect, that a consolidation or combination of an affiliated group include any controlled foreign corporation, the income of which is derived from sources without the United States.

Code 1950, § 58-151.079:1; 1981, c. 402; 1984, c. 675.