2011 Code of Virginia
Title 58.1 TAXATION.
Chapter 26 Taxation of Public Service Corporations (58.1-2600 thru 58.1-2690)
58.1-2690 No state or local tax on intangible personal property or money; local levies and license taxe...
58.1-2690. No state or local tax on intangible personal property or money; local levies and license taxes.
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 such money or income owned by telephone or telegraph companies, railroads, pipeline companies, or corporations furnishing water, heat, light and power by means of electricity, gas or steam.
B. On the real estate and tangible personal property of every incorporated telegraph and telephone company owning or operating telegraph or telephone lines in Virginia and of railroads, pipeline companies, or corporations furnishing water, heat, light and power by means of electricity, gas or steam, there shall be local levies at the rates prescribed by 58.1-2606.
C. Notwithstanding the provisions of subsection A, any county, city or town may impose a license tax under 58.1-3703 upon a corporation owning or operating telegraph or telephone lines in Virginia for the privilege of doing business therein, which shall not exceed one-half of one percent of the gross receipts of such business accruing to such corporation from such business in such county, city or town; however, charges for long distance telephone calls shall not be considered receipts of business in such county, city or town.
D. Notwithstanding the provisions of subsection A, any county, city or town may impose an excise tax under 58.1-3818.3 upon a corporation owning or operating telegraph or telephone lines in Virginia, at a rate that shall not exceed the rate lawfully imposed by 58.1-3818.3, on such corporation's gross receipts from sales of video programming or access to video programming directly to end-user subscribers who are located within such county, city or town.
(Code 1950, 58-518, 58-523, 58-578, 58-593, 58-596, 58-602, 58-606; 1968, c. 637; 1972, cc. 813, 858; 1978, c. 784; 1984, c. 675; 1995, c. 751.)
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