Elil Arasu

Article alarm print PRINT share President Trump has signed legislation to prevent the nation’s capital from decoupling from 13 provisions of the One Big Beautiful Bill Act (OBBBA), but there is uncertainty over whether the law is effective. On February 4, the House voted 215-210 to pass H.J. Res. 142 to repeal temporary emergency legislation (A26-0214) passed by the D.C. Council late last year. The Senate approved H.J. Res. 142 February 12 in a 49-47 vote.

Article alarm print PRINT share President Trump has signed legislation to prevent the nation’s capital from decoupling from 13 provisions of the One Big Beautiful Bill Act (OBBBA), but there is uncertainty over whether the law is effective. On February 4, the House voted 215-210 to pass H.J. Res. 142 to repeal temporary emergency legislation (A26-0214) passed by the D.C. Council late last year. The Senate approved H.J. Res. 142 February 12 in a 49-47 vote.

The Virginia Department of Taxation has released Tax Bulletin 25-5 to explain the impact a recent appellate decision will have on apportionment for corporations with ownership in pass-through entities (PTEs). The Department has long required aggregate apportionment for corporate income tax purposes when a corporation is an owner of a PTE. The aggregate formula combines the corporate owner’s share of the PTE’s apportionment factors with the corporation’s own factors.