§ 58.1-1102. Intangible personal property of certain poultry and livestock producers
A. Any person, firm or corporation who or which enters into contracts with farmers for the production of poultry or livestock under which contracts such person, firm or corporation furnishes the poultry or livestock and feed and other supplies therefor and assumes all financial risks, including all losses in the growing and marketing of such poultry or livestock, shall be subject to the intangible personal property tax under § 58.1-1100 and not as a merchant. Such poultry and livestock shall not be included in such intangible personal property but shall be assessable locally as tangible personal property.
B. Any person, firm or corporation who or which processes poultry to a product ready for human consumption, except for cooking, in a process in which machinery or mechanical devices, or both, play a material or significant part, and who or which sells such products to customers, subject to wholesale merchants' license taxation shall be taxable under § 58.1-1100.
(Code 1950, §§ 58-412.1, 58-412.2; 1952, c. 679; 1956, c. 618; 1982, c. 633; 1984, c. 675.)
Sections: Previous 58.1-1100 58.1-1101 58.1-1102 58.1-1103 58.1-1104 58.1-1105 58.1-1106 58.1-1107 58.1-1108 58.1-1109 58.1-1110 58.1-1111 58.1-1112 58.1-1113 58.1-1114 NextLast modified: April 16, 2009