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Virginia Law

Code of Virginia

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Code of Virginia
Title 58.1. Taxation
Chapter 26. Taxation of Public Service Corporations
11/5/2024

§ 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 title.

Nothing herein contained shall exempt such corporations from the intangible personal property tax levied under Chapter 11, the annual fee and the annual state registration fee on domestic corporations, both levied under § 13.1-775.1 or from assessment for street and other local improvements which shall be authorized by law, or from the county, city, town, or magisterial district levies hereinafter provided for.

Code 1950, § 58-519; 1964, c. 425; 1971, Ex. Sess., c. 41; 1972, c. 813; 1976, c. 777; 1978, c. 784; 1984, c. 675; 1988, c. 899.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.