Under legislation enacted by the 2022 General Assembly, Virginia established a new elective pass-through entity (“PTE”) tax. This bulletin provides taxpayers with preliminary guidance regarding this new elective tax and Taxable Year 2021 Virginia income tax returns.
If you have additional questions, go to
www.tax.virginia.gov, or contact us at 804.367.8031 for individual income tax questions and 804.367.8037 for business tax questions.