2006 Code of Virginia § 58.1-1213 - Credit against state tax for amounts paid cities, towns and counties
58.1-1213. Credit against state tax for amounts paid cities, towns andcounties.
Any bank paying any tax assessed by any city, incorporated town, or countywithin this Commonwealth shall be entitled to credit upon the state taxassessed against it for that year on account of any city, town or countyfranchise tax paid by such bank for that year. In no event, however, shallthe credit exceed the amount of such city, incorporated town or county leviesauthorized by this chapter.
(Code 1950, 58-485.015; 1980, c. 578; 1984, c. 675; 1994, c. 186.)
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