Code of Virginia - Title 58.1 Taxation - Chapter 26 Taxation Of Public Service Corporations

58.1-2600 Definitions
A. As used in this chapter: "Certificated motor vehicle carrier" means a common carrier by motor vehicle, as defined in § 46.2-2000, operating over regular ...

58.1-2601 Boundaries of certain political units to be furnished company, Commission and Department
A. The commissioner of the revenue in each county and city in which a public service corporation or other person with property assessed pursuant to ...

58.1-2602 Local authorities to examine assessments and inform Department or Commission whether correc...
The governing body of each county, city and town, receiving a copy of any assessment made by the Commission or the Department against property of ...

58.1-2603 Local levies to be extended by commissioners of the revenue; copies; forms
All county, district and city levies on the property of public service corporations or other persons with property assessed pursuant to this chapter shall be ...

58.1-2604 Assessed valuation
A. Except as otherwise provided in § 58.1-2609, the equalized assessed valuation of the property of any public service corporation or other person with property ...

58.1-2605 Description unavailable
Repealed by Acts 2002, c. 502, effective January 1, 2003. ...

58.1-2606 Local taxation of real and tangible personal property of public service corporations; other person...
A. Notwithstanding the provisions of this section and §§ 58.1-2607 and 58.1-2690, all local taxes on the real estate and tangible personal property of public ...

58.1-2607 Local taxation of real and tangible personal property of railroads
A. Notwithstanding the provisions of §§ 58.1-2604 and 58.1-2606, and beginning with assessments initially effective January 1, 1980, all assessments of real estate and tangible ...

58.1-2608 State taxation of railroads, telecommunications companies
Every railway company or telecommunications company as defined in § 58.1-400.1 shall pay to the Commonwealth the income tax imposed by Chapter 3 of this ...

58.1-2609 Local taxation of land and nonutility and noncarrier improvements of public service corporations; o...
Whenever land and noncarrier and nonutility improvements of public service corporations and other persons with property assessed pursuant to this chapter are appraised for local ...

58.1-2610 Penalty for failure to file timely report
Any person failing to make a report required under the provisions of this chapter within the time prescribed shall be liable to a penalty of ...

58.1-2611 Penalty for failure to pay tax
A. Any person failing to pay the tax levied pursuant to this chapter into the state treasury within the time prescribed by law shall incur ...

58.1-2612 Lien of taxes
All the taxes and levies provided for in this chapter shall, until paid, be a lien upon the property within the Commonwealth of the corporation ...

58.1-2620 Basis of tax
The license tax levied pursuant to this article shall be paid annually for each tax year based upon the gross receipts received during the taxable ...

58.1-2621 through 58.1-2625
Repealed by 1988, c. 899, effective for tax years 1990 and after. ...

58.1-2626 Annual state license tax on companies furnishing water, heat, light or power
A. Every corporation doing in the Commonwealth the business of furnishing water, heat, light or power, whether by means of gas or steam, except (i) ...

58.1-2626.1 The Virginia Coal Employment and Production Incentive Tax Credit
A. For the tax years beginning on and after January 1, 1988, every corporation in the Commonwealth doing the business of furnishing water, heat, light ...

58.1-2627 Exemptions
There shall be deducted from the gross receipts of any corporation engaged in the business of furnishing heat, light or power by means of gas, ...

58.1-2627.1 Taxation of pipeline companies
A. Every pipeline transmission company shall pay to the Department on its allocated and apportioned net taxable income, in lieu of a license tax, the ...

58.1-2628 Annual report
A. Each telegraph company and telephone company shall report annually, on April 15, to the Commission all real and tangible personal property of every description ...

58.1-2629 License taxes of corporations commencing business
A. Companies or persons otherwise taxable under § 58.1-2626 but that begin business on or after the beginning of the tax year shall pay a ...

58.1-2630 Gross receipts in cases of acquisition of business
A. Any taxpayer liable for a license tax required by this chapter or liable for the special regulatory revenue tax required by Article 6 (§ ...

58.1-2631 Gross receipts in cases of consolidation or merger
Whenever there is a consolidation or merger of corporations taxable under § 58.1-2626 or taxable under Article 6 (§ 58.1-2660 et seq.) of this chapter, ...

58.1-2632 Applicability of other provisions to corporations commencing business, acquiring other business, o...
All provisions of this article applicable to the license tax of any corporation subject to §§ 58.1-2629, 58.1-2630 or § 58.1-2631, including such provisions relating ...

58.1-2633 Assessment by Commission
A. The Commission shall assess the value of the reported property subject to local taxation of each telegraph, telephone, water, heat, light and power company ...

58.1-2634 Copies of assessment forwarded to interested parties
A certified copy of the assessment made pursuant to § 58.1-2633, when made, shall be immediately forwarded by the clerk of the Commission to the ...

58.1-2635 Date of payment of taxes
Every taxpayer assessed a license tax under any of the provisions of this article shall pay such tax into the state treasury by June 1 ...

58.1-2640 Declarations of estimated tax required; contents, etc
A. Every taxpayer that is subject to a state license tax imposed by § 58.1-2626 shall make a declaration of estimated tax for the taxable ...

58.1-2641 Time for filing declarations of estimated tax
A. The declaration of estimated tax shall be filed as follows: If the requirements of subsection A of § 58.1-2640 are first met: 1. Before ...

58.1-2642 Amendments to declaration
An amendment to a declaration may be filed in any interval between installment dates prescribed for the taxable year, but only one amendment may be ...

58.1-2643 Payment of estimated tax
A. The amount of estimated tax with respect to which a declaration is required under § 58.1-2640 shall be paid in installments as follows: 1. ...

58.1-2644 Payments are on account of tax for tax year
Payment of the estimated tax or any installment thereof shall be considered payment on account of the license tax imposed by this chapter for the ...

58.1-2645 Late filing
If the declaration is filed after the time prescribed by § 58.1-2641 (determined without regard to any extension of time for filing the declaration), there ...

58.1-2646 Extensions of time
The Commission may grant a reasonable extension of time for payment of estimated tax or any installment, or for filing any declaration on condition that ...

58.1-2647 Where declarations filed and how payments made; refunding overpayments
A. Every taxpayer required to file a declaration and make payment of the estimated tax shall file and pay the same with the Commission. All ...

58.1-2648 Failure to pay estimated tax
A. In case of any underpayment of estimated tax by a taxpayer, there shall be added to the tax for the tax year an amount ...

58.1-2649 Exception to { 58.1-2648
A. Notwithstanding the provisions of § 58.1-2648, the addition to the tax with respect to any underpayment of any installment shall not be imposed if ...

58.1-2650 Other provisions of this chapter not affected by this article; taxpayers beginning or going out of ...
Nothing in the preceding sections relative to the payment of estimated tax payments shall be construed as affecting other provisions of this chapter except to ...

58.1-2651 Certain sections not applicable to special revenue taxes imposed by Article 6
The provisions of §§ 58.1-2640 through 58.1-2650 shall not apply to the special revenue taxes imposed by Article 6 (§ 58.1-2660 et seq.) of this ...

58.1-2652 State tax on rolling stock; date of payment
A. The state tax on the rolling stock of a railroad, a freight car company and a certificated motor vehicle carrier, doing business in this ...

58.1-2653 Annual report of railroads and freight car companies
A. Every railroad shall report on or before April 15, to the Department, its real and tangible personal property, including real property used for common ...

58.1-2654 Annual report of motor vehicle carriers
A. Every certificated motor vehicle carrier operating in the Commonwealth shall report annually on or before March 1 to the Commission: 1. All of its ...

58.1-2654.1 Penalty for failure to properly file annual reports
Every motor vehicle carrier failing to comply with § 58.1-2654 shall be subject to the imposition of a monetary penalty by the Commission as provided ...

58.1-2655 Assessment by Department and Commission
A. The Tax Commissioner shall annually assess for local taxation the value of the real and tangible personal property, including real property used for common ...

58.1-2656 Valuation of sidetracks, double tracks, etc
In making report of and assessment of the property included in the class described in § 58.1-2655, there shall be found for each railroad, for ...

58.1-2657 Copies of assessments to be furnished to taxpayer and local officials
The Tax Commissioner shall furnish to the governing body of every county, city or town, to the commissioner of the revenue of every county and ...

58.1-2658 Distribution of certain taxes collected; prohibition of certain local taxes
The rolling stock tax of certificated motor vehicle carriers as provided in § 58.1-2652 shall be distributed to the counties, cities and incorporated towns of ...

58.1-2658.1 Distribution of certain taxes collected
The taxes assessed upon the rolling stock of railroads and freight car companies as provided in § 58.1-2652 shall be distributed in the following manner: ...

58.1-2659 Article not applicable to companies exempt by federal laws
No provision of this article shall have any application to any railway company doing business in this Commonwealth if such company is exempt by virtue ...

58.1-2660 Special revenue tax; levy
A. In addition to any other taxes upon the subjects of taxation listed herein, there is hereby levied, subject to the provisions of § 58.1-2664, ...

58.1-2661 Exceptions
The amount of the regulatory revenue tax levied pursuant to § 58.1-2660 on railroads shall not exceed an estimate of the expenses to be incurred ...

58.1-2662 Computation of revenue tax on railroads
The special regulatory revenue tax levied pursuant to § 58.1-2660 shall be based upon the gross transportation receipts of each railroad for the year ending ...

58.1-2662.1 Gross receipts of telephone and telegraph companies
The special regulatory revenue tax on telephone and telegraph companies levied pursuant to § 58.1-2660 shall be based on gross receipts with the following deductions: ...

58.1-2662.2 Gross receipts of companies furnishing water, heat, light or power
The special regulatory revenue tax on companies furnishing water, heat, light or power levied pursuant to § 58.1-2660 shall be based on gross receipts with ...

58.1-2663 How taxes assessed, collected and paid
The taxes provided for by this article shall be assessed, determined and collected by the State Corporation Commission in the same manner and on such ...

58.1-2664 When taxes not to be assessed or assessed only in part
The Commission shall, in the performance of its function and duty in assessing and levying the special regulatory revenue taxes provided for by this article, ...

58.1-2665 Use of taxes collected under this article
The taxes paid into the state treasury under this article shall be deposited in a special fund to be used only by the Commission and ...

58.1-2670 Application to Commission or Department for review
Any taxpayer, the Commonwealth or any county, city or town aggrieved by any action of the Commission in the ascertainment of, or the assessment for ...

58.1-2670.1 Application to court to correct erroneous local assessment ratio
A. Subject to the limitations provided herein, any county, city, or town or public service corporation or other entity whose property is assessed by the ...

58.1-2671 Setting for hearing and notice to adverse parties
Upon the filing of any such application, the Commission shall fix a time and place at which it will hear such testimony with reference thereto ...

58.1-2672 Review on motion of Commission
At any time within three months after a taxpayer receives the certified copy of any such assessment of value or tax, the Commission may of ...

58.1-2673 Correction after hearing or investigation; proceedings for enforcement
If, from the evidence introduced at such hearing or its own investigations, the Commission is of opinion that the assessment or tax is excessive, it ...

58.1-2674 Notice to Commonwealth
Notice of hearing before the Commission required to be served under this article upon the Commonwealth shall be served upon the officer of the Commonwealth ...

58.1-2674.1 Application for correction of certification to Department of Taxation
Any telecommunications company or electric supplier aggrieved by any action of the Commission in the certification of gross receipts to the Department of Taxation as ...

58.1-2675 Appeals to Supreme Court
Any taxpayer, the Commonwealth or any county, city, or town aggrieved by any assessment or ascertainment of taxes by the Commission, after having proceeded before ...

58.1-2676 Action of Supreme Court thereon
If the Supreme Court determines that the assessment or tax is excessive, it shall reduce the same or if it is insufficient, it shall increase ...

58.1-2680 Reports to include location by districts, etc
Every public service corporation as defined in § 56-1 required to report to the Commission or the Department for the assessment of real or personal ...

58.1-2681 Copies of assessment for local officials; contents
When any such property is assessed by the Commission or the Department under the provisions of this article, the Commission or the Department, as the ...

58.1-2682 District boundaries to be furnished company and Commission
The commissioner of the revenue, or person performing the duties of such officer, of any county set forth in § 58.1-2680 in which a public ...

58.1-2683 Article does not affect other duties
The provisions of this article shall not affect any duties imposed upon public service corporations, the Commonwealth, Commission, Department, or any commissioner of the revenue, ...

58.1-2690 No state or local tax on intangible personal property or money; local levies and license taxe...
A. Except as provided in this chapter, there shall be no state or local taxes assessed on the intangible personal property, gross receipts or other ...