Apportionment of income; corporate income tax.

Makes several changes to the current method used by multistate corporations to apportion income to Virginia for purposes of the corporate income tax, including (i) establishing sales as the sole factor to be used in apportioning income, with such single sales factor apportionment phased in and first effective beginning with taxable year 2020; (ii) adopting market-based sourcing as the approach for sourcing sales of services and nontangible personal property to Virginia; and (iii) eliminating the requirements placed on manufacturing companies electing single sales factor apportionment to maintain certain employment and wage levels.