Finance
Department of Taxation
Department of Taxation
Mandate 258
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Mandate Title:
Subtractions for Gains from Peanut Quota Program
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Purpose of legislation
Allows a corporate and individual income tax subtraction for any gain recognized as a result of the payments made under the federal Peanut Quota Buyout Program of the Farm Security and Rural Investment Act of 2002.
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| Legislation mandating a change | Chap 209 (2003) |
| VAC chapters to be amended |
23 vac 10 - 120 : Corporation Income Tax
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| Associated Regulatory Actions | No regulatory action has been filed. |
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Closing Explanation
The Department of Taxation has determined that the legislation is clear and unambiguous and does not require the promulgation of a regulation to interpret it.
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