Code of Virginia (Title 58.1 — Taxation)
Va. Code § 58.1-1211
Branch banks
Official textlaw.lis.virginia.gov
If any bank has offices located in two or more political subdivisions, which includes cities, towns and counties, the tax which may be imposed by any subdivision under §§ 58.1-1208, 58.1-1209 or § 58.1-1210 shall be imposed upon only such proportion of the taxable value of the net capital under § 58.1-1204 as the total deposits of such bank, or offices located inside the taxing subdivision, bears to total deposits as of the end of the preceding year. For the purposes of this section, offices located within an incorporated town shall be deemed not within the county where such banks are located.
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Nearby sections (25 sections)
- 58.1-1117 · How intangible personal property tax collectible
- 58.1-1118 · Intangible personal property assessment sheets or forms
- 58.1-1200 · Title
- 58.1-1201 · Definitions
- 58.1-1202 · Bank capital assessable
- 58.1-1203 · Real and leased tangible personal property of banks to be…
- 58.1-1204 · Rate of tax
- 58.1-1204.1 · Proration for new banks
- 58.1-1205 · Computation of net capital
- 58.1-1208 · City tax
- 58.1-1209 · Town tax
- 58.1-1210 · County tax
- 58.1-1211 · Branch banks
- 58.1-1213 · Credit against state tax for amounts paid cities, towns and…
- 58.1-1214 · Auditing of returns
- 58.1-1215 · Banks in liquidation
- 58.1-1216 · Penalty upon bank for failure to comply with chapter
- 58.1-1217 · State banks and national banks treated the same in matter…
- 58.1-1400 · Title
- 58.1-1401 · Definitions
- 58.1-1401.1 · When motor deemed a watercraft
- 58.1-1402 · Tax levied
- 58.1-1403 · Basis of tax; estimate of tax; penalty for misrepresentation
- 58.1-1404 · Exemptions
- 58.1-1405 · Time for payment of tax