58.1-486.1 - Definitions. - Virginia Statutes

§ 58.1-486.1. Definitions.

"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 thetaxable year of the pass-through entity for federal income tax purposes. If apass-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.

(2007, c. 796.)