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 ...
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) ...
Governor Glenn Youngkin has unveiled a new budget proposal aimed at exempting service tips from Virginia’s state income tax. This initiative is expected to return approximately $70 million annually to ...
Some taxpayers in Virginia are eligible to receive up to $200 as part of the state’s budget deal earlier this year. The General Assembly’s budget deal includes the one-time tax rebate and increases ...
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