Code of Virginia § 58.1-486.1. Definitions.
80 words·~1 min read·
/va/title-58-1/chapter-3/58-1-486-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
"Owner" means the same as that term is defined in § 58.1-390.1 .
"Pass-through entity" means the same as that term is defined in § 58.1-390.1 .
"Taxable year" when used in regard to pass-through entities means the taxable year of the pass-through entity for federal income tax purposes. If a pass-through entity does not have a taxable year for federal tax purposes, its tax year for purposes of this article shall be the calendar year.
2007, c. 796 .