Code of Virginia - Title 58.1 Taxation - Section 58.1-1204 Rate of tax

§ 58.1-1204. Rate of tax

The franchise tax imposed under this chapter shall be at the rate of $1 on each $100 of net capital as hereinafter defined. There shall be no deduction in respect to shares owned by exempt institutions.

(Code 1950, § 58-485.06; 1980, c. 578; 1981, c. 432; 1984, c. 675.)

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Last modified: April 3, 2009