2014 Virginia Code
Title 58.1 - Taxation
§ 58.1-405. Corporations transacting or conducting entire business within this Commonwealth
If the entire business of the corporation is transacted or conducted within the Commonwealth, the tax imposed by this chapter shall be upon the entire Virginia taxable income of such corporation for each taxable year. The entire business of the corporation shall be deemed to have been transacted or conducted within the Commonwealth if such corporation is not subject in any other state to a net income tax, a franchise tax measured by net income, or a franchise tax for the privilege of doing business.
Code 1950, ยง 58-151.033; 1971, Ex. Sess., c. 171; 1981, c. 402; 1984, c. 675.
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