• Date Due: November 01, 2025
  • Author: Department of Taxation
  • Enabling Authority: Appropriation Act - Item 257 F. (Regular Session, 2025)
  • Description:
    Report on the findings and recommendations of the work group convened to study the treatment of net operating losses in Virginia when compared to other states and shall make recommendations to simplify such treatment in Virginia, and shall consider: (i) transition rules to the proposed simplified method of determining net operating losses; (ii) the effective date of any such transition; and (iii) what legislative, regulatory, or guideline amendments would be necessary to best effectuate such transition.