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Committee backs substitute on receipts attribution; delayed effective date and work group directed to study cross-state gross-receipts changes
Summary
House Bill 1743, as substituted, clarifies how receipts are attributed for income-based tax measures, defines income-based taxes for purposes of the statute, includes a delayed effective date of July 1, 2026, and directs the Department of Taxation to convene a stakeholder work group and report findings to money committees.
Delegate Del. Watts presented House Bill 1743 and the substitute that followed stakeholder meetings and counsel review. The substitute adds language that such receipts shall be determined based on the facts and circumstances of the taxpayer's business operations without regard to the amount of income ultimately computed as taxable under the methodology used by another state to which receipts are attributable. It also defines "income or other tax based upon income" as a net income tax as defined by federal law or any other tax the measure of which is based in whole or in part on gross…
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