                                 CODE OF VIRGINIA

REPORTING REQUIREMENT; ADMINISTRATIVE ADJUSTMENT REQUESTS (§ 58.1-397)

Partnerships and partners shall report final federal adjustments arising from a
partnership-level audit or an administrative adjustment request and make
required payments pursuant to the provisions of this article and shall not be
required to comply with the provisions of § 58.1-311. This section shall not
apply to adjustments required to be reported for federal income tax purposes
pursuant to § 6225(a)(2) of the Internal Revenue Code and shall not apply to
the distributive share of adjustments that have been reported as required under
§ 58.1-311.

HISTORY: 2020, c. 1030.