HB958
Income tax, corporate; taxable income; net operating loss.
Status:
In Senate
Latest Action:
Feb. 10, 2026
House: Read third time and passed House (96-Y 1-N 1-A)
Chief Patron:
Vivian Watts (D)
Session:
2026 Regular Session
Summary
As Introduced. Corporate income tax; taxable income; net operating loss.
Provides that, beginning in taxable year 2027, for purposes of calculating the Virginia taxable income of corporations, federal income means any income taxable to the corporation under federal law for such year excluding net operating loss deductions under federal tax law.-
Bill History
- 01/13/2026 - House: Prefiled and ordered printed; Offered 01-14-2026 26102351D
- 01/13/2026 - House: Referred to Committee on Finance
- 01/30/2026 - House: Placed on Finance Agenda
- 02/01/2026 - House: Placed on Finance Agenda
- 02/01/2026 - House: Fiscal Impact statement From TAX (2/1/2026 11:34 pm)
- 02/02/2026 - House: Subcommittee recommends reporting (9-Y 0-N)
- 02/03/2026 - House: Placed on Finance Agenda
- 02/04/2026 - House: Reported from Finance (22-Y 0-N)
- 02/06/2026 - House: Read first time
- 02/09/2026 - House: Read second time and engrossed
- 02/10/2026 - House: Moved from Uncontested Calendar to Regular Calendar
- 02/10/2026 - House: Read third time and passed House (96-Y 1-N 1-A)
