HB 401

  • Virginia House Bill
  • 2022 Regular Session
  • Introduced in House Jan 11, 2022
  • House
  • Senate
  • Governor

Income tax, state; pass-through entities.


Income taxation; pass-through entities.Permits a qualifying pass-through entity, defined in the bill, tomake an annual election in taxable years 2021 through 2025 to payan elective income tax at a rate of 5.75 percent, created by thebill, at the entity level for the taxable period covered by the return.The bill also creates a corresponding individual income tax subtraction for taxable years 2021 through 2025 for any amount of income derivedfrom a pass-through entity having Virginia taxable income if suchpass-through entity makes such election and pays the elective incometax imposed at the entity level.

Bill Sponsors (1)



Feb 15, 2022


Left in Finance

Feb 07, 2022


Subcommittee recommends striking from docket (9-Y 0-N)

Feb 03, 2022


Impact statement from TAX (HB401)

Jan 27, 2022


Assigned Finance sub: Subcommittee #1

Jan 11, 2022


Prefiled and ordered printed; offered 01/12/22 22101046D


Referred to Committee on Finance

Bill Text

Bill Text Versions Format
Prefiled and ordered printed; offered 01/12/22 22101046D PDF HTML

Related Documents

Document Format
Fiscal Impact Statement: HB401F161.PDF PDF


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