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2023 Developments in Virginia Taxation

A Summary Review of Tax Legislation, Court Decisions, Opinions of the Attorney General and Published Rulings of the Tax Commissioner Published from January 1, 2023 through November 10, 2023....more

Virginia Dept of Tax Issues Clarifying Guidance for Recent Changes to Pass-Through Entity Tax

The General Assembly enacted legislation (H.B. 1456 and S.B. 1476) during its 2023 Regular Session that removed some of the barriers for qualifying for Virginia’s Pass-Through Entity Tax (PTET) election and altered how PTET...more

Virginia’s General Assembly Enacts New Tax Legislation in 2023 (Chart Included)

The table below summarizes the tax legislation enacted by the General Assembly during its 2023 Regular Session and approved by Gov. Youngkin that will become law on or before July 1, 2023. Please note that any legislation...more

Increased Flexibility for Pass-Through Entity Tax Election Passes Through General Assembly

During its 2023 Session, the Virginia General Assembly passed legislation, H.B. 1456 and S.B. 1476, that removes some of the barriers for participating in Virginia’s elective Pass-Through Entity Tax (PTET)....more

The Virginia Department of Tax Publishes Pass-Through Entity Tax FAQs

The Virginia Department of Taxation (Department) recently published Virginia Pass-Through Entity Tax Frequently Asked Questions for Taxable Years 2022 and After (FAQs). As summarized below, the FAQs provide helpful guidance...more

[Webinar] Spring Tax Forum - May 26th, 9:00 am ET

Join us virtually for the Spring Tax Forum on Thursday, May 26, 2022. Our speakers, Dan Durst and Kyle Wingfield, will provide the latest updates on tax and wealth planning, including: - Virginia’s recently passed Pass...more

Virginia Department of Taxation Releases Initial Guidance on New Pass-Through Entity Election, Including Important Details for...

During the 2022 General Assembly Session, legislation was enacted that allows a qualifying pass-through entity (PTE) to make an annual election for Taxable Years 2021 through 2025 to pay income tax at a rate of 5.75% at the...more

Tax Planning Opportunity for Owners of Pass-Through Entities: Virginia Enacts Workaround to $10,000 Federal Income Tax Limitation...

Virginia recently enacted legislation that provides an opportunity for the owners of a qualified pass-through entity (PTE) to reduce their federal income tax liability if the PTE makes an election to pay Virginia taxes at the...more

Southeast State & Local Tax: Important Developments - April Update

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of recent legislation around the U.S. ...more

Southeast State & Local Tax: Important Developments - October 2013

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of recent legislation around the U.S....more

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