23 VAC Title 23 Agency 10 — Virginia Tax Regulations
23VAC10-500-410
Financial services; banks
Official textlaw.lis.virginia.gov
Although they render financial services:
# 1.
Banks and trust companies subject to the Virginia bank franchise tax are exempt from local license tax by § 58.1-1202 of the Code of Virginia except as to sales of tangible personal property;
# 2.
Savings institutions (including those whose name includes "savings bank") and state chartered credit unions are limited to a local license tax of $50 by § 58.1-3730 of the Code of Virginia; and
# 3.
Federal credit unions are exempt under the Federal Credit Union Act, 12 USC § 1768.
Source: view the official text
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