Virginia’s 2016 General Assembly: Manufacturing sector well represented by VMA

Posted on 03.29.16

Virginia’s 2016 General Assembly: Manufacturing sector well represented by VMA

By Gary G. Wallace, CPA, Tax Partner | Manufacturing, Retail & Distribution Industry Team

The manufacturing sector was well represented by the Virginia Manufacturers Association (VMA) at Virginia’s 2016 General Assembly session.  Each year, members of the VMA’s legislative team spend countless hours meeting with and informing Virginia’s legislators on matters that are important for the manufacturing sector.  The VMA has provided an overview of the legislative successes and challenges in their VMA 2016 Legislative Wrap-Up Report.

Highlights

  • VMA managed 534 bills out of the 3,286 bills that were introduced this session
  • Taxation, environmental, education/workforce, transportation, energy, and economic development bills dominated the session
  • The majority party in both the House and Senate remain supportive of VMA's priorities

VMA will continue to seek support in legislature for the manufacturing industries top concerns, including closing the skills and career planning gaps by 2020, expanding manufacturing exports, keep energy affordable and reliable, and stop taxing technology.

The information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.

Posted by: Gary G. Wallace, CPA

Gary provides tax services to public and private entities and their owners in a variety of industry segments, including manufacturing, retail, real estate, and financial services.  Gary has significant knowledge and experience in individual taxation, business taxation, including C and S corporations and partnerships.  He advises clients on all aspects of tax matters, including tax accounting methods, multi-state tax matters, mergers and acquisitions, income tax accounting and representation with tax authorities. He is the leader of the Firm's Tax Practice and a leader in the Firm’s Manufacturing, Retail and Distribution industry team.