SB346:

Income tax, state; property analytics firms, apportionment and sourcing of sales.

Bill Summary:

Income tax; property information and analytics firms. Allows property information and analytics firms that meet certain job creation and investment criteria to use market-based sourcing for the sale of services. The bill also sets forth numerous reporting requirements for such firms and for the Department of Taxation. The provisions of the bill shall not become effective until a memorandum of understanding is signed by a property information and analytics firm and the Virginia Economic Development Partnership Authority. This bill is identical to HB 453.