Administrative Code

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

23VAC10-120-70. Imposition of tax.

A tax at the rate of six percent is imposed on the Virginia taxable income of every corporation organized under Virginia law and every foreign corporation having income from Virginia sources, as defined in 23VAC10-120-20, regardless of whether or not such foreign corporation has registered with the State Corporation Commission and obtained a certificate of authority to transact business in Virginia.

Statutory Authority

§§ 58.1-203 and 58.1-400 of the Code of Virginia.

Historical Notes

Derived from VR630-3-400, eff. January 1, 1985.

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