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Virginia enacts tax legislation, including expansion of nexus for out-of-state sellers

During February and March 2017, Virginia Governor Terry McAuliffe signed multiple tax bills into law that make changes to the state's income; sales; property; and business, professional and occupational license (BPOL) taxes. Specifically, the bills expand sales tax nexus to encompass out-of-state sellers with property in the state; update the Internal Revenue Code conformity date for income tax purposes; and modify various exemptions from sales tax, property tax and BPOL.