Code of Virginia - Title 58.1 Taxation - Chapter 11 Intangible Personal Property Tax

58.1-1100 Intangible personal property; segregated for state taxation
Intangible personal property, including capital of a trade or business of any person, firm or corporation, except for merchants' capital as defined in § 58.1-3510 ...

58.1-1101 Classification
A. The subjects of taxation classified by this section are hereby defined as intangible personal property: 1. Capital which is inventory, except wine while in ...

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 ...

58.1-1103 Exempt professions and businesses; how property used therein taxable
Section 58.1-1100 shall not be construed to apply (i) to any profession which the Commonwealth regulates by law, (ii) to industrial development corporations organized pursuant ...

58.1-1104 To what extent dairies taxable on intangible personal property
That part of the dairy business which consists of the purchase, pasteurization and sale of milk and cream and the production and sale of buttermilk, ...

58.1-1105 Suppliers of pulpwood, veneer logs, mine props and railroad crossties
Suppliers of pulpwood, veneer logs, mine props and railroad crossties who furnish the same to manufacturers, mine operators and railway companies shall be subject to ...

58.1-1106 Situs; nonresidents, branches outside of Commonwealth
A. Every nonresident person, every foreign corporation and every partnership consisting in whole or in part of nonresident persons doing business in this Commonwealth is ...

58.1-1107 Date as of which intangible personal property must be returned
Intangible personal property shall be returned for taxation as of January 1 of every year. The status of all persons, firms, corporations and other taxpayers ...

58.1-1108 Time for filing returns; payment of tax
All returns of intangible personal property shall be made by the taxpayer on or before May 1 in each year, and the full amount of ...

58.1-1109 Extension of time for filing returns
The Tax Commissioner may grant a reasonable extension of time for filing intangible returns whenever in his judgment good cause exists. Except in the case ...

58.1-1110 Where to file return; duty of the commissioner of revenue; audit and assessment
A. Every person subject to taxation pursuant to this chapter shall file his return with the commissioner of the revenue for the county or city ...

58.1-1111 Application to fiduciaries generally
Fiduciaries shall be subject to all the provisions of this chapter which apply to other taxpayers, except as otherwise specifically provided herein. Any fiduciary for ...

58.1-1112 Forwarding to and audit of returns by Department
As soon as the returns of intangible personal property have been received by the commissioner of the revenue and entered upon the assessment sheets or ...

58.1-1113 Penalty for failure to file returns of intangible personal property in time; delinquents; assessmen...
The commissioner of the revenue shall assess a penalty equal to ten percent of the amount of taxes assessable thereon upon any return filed with ...

58.1-1114 Assessment and payment of deficiency; penalties; application for correction
If the amount of tax computed by the Department is greater than the amount theretofore assessed, the excess shall be assessed by the Tax Commissioner ...

58.1-1115 Refund of overpayment
If the amount of tax as computed is less than the amount theretofore paid, the excess shall be refunded out of the state treasury on ...

58.1-1116 Failure to pay tax when due; civil penalties
If any tax or part thereof is not paid in full when due, there shall be added to the amount unpaid a penalty of five ...

58.1-1117 How intangible personal property tax collectible
Each county and city treasurer shall proceed promptly to collect all intangible personal property taxes for the tax year that have been assessed by the ...

58.1-1118 Intangible personal property assessment sheets or forms
The Department shall prescribe and furnish assessment sheets or forms for the use of every commissioner of the revenue in making assessments of intangible personal ...