§ 58.1-412. Payroll factor
The payroll factor is a fraction, the numerator of which is the total amount paid or accrued in the Commonwealth during the tax period by the corporation for compensation, and the denominator of which is the total compensation paid or accrued everywhere during the taxable year, to the extent that such payroll is used to produce Virginia taxable income and is effectively connected with the conduct of a trade or business within the United States and income therefrom is includable in federal taxable income.
(Code 1950, § 58-151.045; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c. 675.)
Sections: Previous 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 58.1-416 58.1-417 58.1-418 58.1-419 NextLast modified: April 3, 2009