Administrative Code

Creating a Report: Check the sections you'd like to appear in the report, then use the "Create Report" button at the bottom of the page to generate your report. Once the report is generated you'll then have the option to download it as a pdf, print or email the report.

Virginia Administrative Code
Title 23. Taxation
Agency 10. Department of Taxation
Chapter 340. Intangible Personal Property Tax Regulations
2/9/2023

23VAC10-340-30. Intangible personal property of certain poultry and livestock producers.

Farmers raising poultry and livestock are exempt from state intangible personal property tax. This exemption does not apply to businesses which enter into contracts with farmers for the production of poultry or livestock when such businesses (a) furnish the poultry or livestock, feed and supplies to the farmers and (b) assume all financial risks, including all losses in the growing and marketing of such poultry or livestock. These businesses are subject to state intangible personal property tax except that poultry and livestock, while under production contract with farmers, are assessable locally as tangible personal property and not as a part of intangible personal property. Inventory of poultry processors is subject to intangible personal property tax and exempt from local taxation if (1) the processing significantly utilizes machinery or mechanical devices, (2) the processed poultry is ready for human consumption, except for cooking and (3) the poultry is sold to customers who are subject to wholesale merchants' license taxation.

Statutory Authority

§§ 58.1-203 and 58.1-1102 of the Code of Virginia.

Historical Notes

Derived from VR630-16-1102, eff. January 1, 1985.

Website addresses provided in the Virginia Administrative Code to documents incorporated by reference are for the reader's convenience only, may not necessarily be active or current, and should not be relied upon. To ensure the information incorporated by reference is accurate, the reader is encouraged to use the source document described in the regulation.

As a service to the public, the Virginia Administrative Code is provided online by the Virginia General Assembly. We are unable to answer legal questions or respond to requests for legal advice, including application of law to specific fact. To understand and protect your legal rights, you should consult an attorney.