CODE OF VIRGINIA

DEFINITIONS (§ 58.1-486.1)

“Owner” means the same as that term is defined in §
58.1-390.1.”Pass-through entity” means the same as that term is
defined in § 58.1-390.1.”Taxable year” when used in regard to
pass-through entities means the taxable year of the pass-through entity for
federal income tax purposes. If a pass-through entity does not have a taxable
year for federal tax purposes, its tax year for purposes of this article shall
be the calendar year.

HISTORY: 2007, c. 796.