Agencies | Governor
Virginia Regulatory Town Hall
Department of Taxation
Department of Taxation
Bank Franchise Tax [23 VAC 10 ‑ 330]
Amend Bank Franchise Regulation to Conform to Law Changes and Existing Policy
General Information
Action Summary This regulatory action will amend Bank Franchise Tax Regulation sections 23VAC10-330-20 relating to the computation of net capital and relating to deductions from gross capital. This action is necessary to reflect legislative changes affecting the calculation of gross capital and deductions. Some of this language is also unnecessary. Therefore, this regulatory action will repeal Bank Franchise Tax Regulation language that is unnecessary and will update all other provisions to conform legislative changes and current tax policy. The amendment of this section does not reflect a change in existing tax policy and will have no impact on the administration of the tax.
Chapters Affected Only affects this chapter.
Exempt from APA No, this action is not exempt from Article II of the APA and executive branch review.
RIS Project Yes  [004854]
Associated Mandates
Note This action is not intended to satisfy the requirement that an entire regulation be reviewed every 4 years.
Stages associated with this regulatory action.
Stage ID Stage Type Status
7655 Fast-Track Stage complete. This regulation became effective on 10/23/2017.
Contact Information
Name / Title: James Savage  / Tax Policy Analyst
Address: P.O Box 27185
Richmond, VA 23261
Email Address:
Phone: (804)371-2301    FAX: ()-    TDD: ()-