Corporate income tax; apportionment. Allows, for taxable years beginning on and after January 1, 2024, for corporations to apportion their income to the Commonwealth using the single sales factor method. The bill provides that such apportionment method shall be used only if the corporation makes an election to do so.

Statutes affected:
House: Prefiled and ordered printed; offered 01/10/24 24103605D: 58.1-408