Virginia § 58.1-444 Several liability of affiliated corporations

Virginia Statutes

§ 58.1-444 — Several liability of affiliated corporations

Virginia § 58.1-444

JurisdictionVirginia

Title 58.1TAXATION

Subtitle ITAXES ADMINISTERED BY THE DEPARTMENT OF TAXATION

Ch. 3INCOME TAX

Art. 14ACCOUNTING, RETURNS, PROCEDURES FOR CORPORATIONS

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Bluebook

Va. Code Ann. § 58.1-444 (2026).

Text

Each affiliated corporation which was included in the consolidated return for any part of the consolidated return year shall be jointly and severally liable for the tax for such year computed in accordance with § 58.1-442 and regulations prescribed by the Department for the filing of the consolidated return for such year.

No agreement entered into by one or more members of the affiliated group with any other member of such group or with any other person shall in any case have the effect of reducing the liability prescribed under this section.

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Each affiliated corporation which was included in the consolidated return for any part of the consolidated return year shall be jointly and severally liable for the tax for such year computed in accordance with § 58.1-442 and regulations prescribed by the Department for the filing of the consolidated return for such year.

No agreement entered into by one or more members of the affiliated group with any other member of such group or with any other person shall in any case have the effect of reducing the liability prescribed under this section.