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Virginia Administrative Code
Title 23. Taxation
Agency 10. Department of Taxation
Chapter 120. Corporation Income Tax
7/4/2025

23VAC10-120-270. Railway companies; apportionment.

A. Railway companies are required to apportion income by use of a special factor. The factor is a fraction, the numerator of which is the revenue car miles in Virginia and the denominator of which is revenue car miles everywhere.

B. Definitions.

"Railway company" means any corporation subject to regulation as a railway company by the U.S. Interstate Commerce Commission.

"Income subject to apportionment" means the entire Virginia taxable income of the corporation except income allocable under 23VAC10-120-140.

"Revenue car mile" means the movement of loaded car equipment a distance of one mile determined in accordance with the Uniform System of Accounts for Railroad Companies of the Interstate Commerce Commission.

Statutory Authority

§§ 58.1-203 and 58.1-420 of the Code of Virginia.

Historical Notes

Derived from VR630-3-420, eff. January 1, 1985.

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