HB609

Virginia HB609 modifies corporate income tax rules for sales of services and intangible property.

Virginia HB609 amends corporate income tax rules to redefine the sourcing of sales for certain services and intangible property. Sales of services are considered sourced in Virginia if the benefit is received by a customer or client in the state, regardless of the seller's location. This applies to Internet root infrastructure providers, property information and analytics firms, and debt buyers. For intangible property, if the benefit is received in Virginia, the sale is sourced there.