Apportionment for Manufacturers

Modify the corporate apportionment formula by allowing manufacturing companies to use a single factor apportionment based on sales to determine their Virginia taxable income.

23 vac 10 - 120 : Corporation Income Tax

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. The Department has already adopted Guidelines providing guidance on this provision, as required by the legislation.