§ 58.1-408. What income apportioned and how
The Virginia taxable income of any corporation, except those subject to the provisions of §§ 58.1-417, 58.1-418, 58.1-419, or § 58.1-420, excluding income allocable under § 58.1-407, shall be apportioned to the Commonwealth by multiplying such income by a fraction, the numerator of which is the property factor plus the payroll factor, plus twice the sales factor, and the denominator of which is four; however, where the sales factor does not exist, the denominator of the fraction shall be the number of existing factors and where the sales factor exists but the payroll factor or the property factor does not exist, the denominator of the fraction shall be the number of existing factors plus one.
(Code 1950, § 58-151.041; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c. 675; 1999, cc. 158, 186.)
Sections: Previous 58.1-401 58.1-402 58.1-403 58.1-404 58.1-405 58.1-406 58.1-407 58.1-408 58.1-409 58.1-410 58.1-411 58.1-412 58.1-413 58.1-414 58.1-415 NextLast modified: April 16, 2009