Code of Virginia (Title 58.1 — Taxation)
Va. Code § 58.1-3508
Separate classification and exemption from state taxation of machinery, tools and supplies used in harvesting forest products
Official textlaw.lis.virginia.gov
# A.
Machinery or tools and repair parts therefor or replacements thereof, used directly in the harvesting of forest products for sale or for use as a component part of a product to be sold, shall constitute a classification for local taxation separate from other such classifications of real or personal property or machinery and tools as defined in § 58.1-3507. The rate of assessment and the rate of tax shall not exceed that applicable generally to machinery and tools.
# B.
The provisions of this section shall be applicable only to taxpayers liable for payment of forest product taxes under Chapter 16 (§ 58.1-1600 et seq.) of this title.
Source: view the official text
Nearby sections (25 sections)
- 58.1-3504 · Classification of certain household goods and personal…
- 58.1-3505 · Classification of farm animals, certain grains,…
- 58.1-3506 · Other classifications of tangible personal property for…
- 58.1-3506.1 · Other classification for taxation of certain tangible…
- 58.1-3506.2 · Restrictions and conditions
- 58.1-3506.3 · Permanently and totally disabled defined
- 58.1-3506.4 · Local restrictions and conditions; model ordinance
- 58.1-3506.5 · Application
- 58.1-3506.6 · Notice of local tangible personal property tax relief…
- 58.1-3506.7 · Effective date; change in circumstances
- 58.1-3506.8 · Repealed
- 58.1-3507 · Certain machinery and tools segregated for local taxation…
- 58.1-3508 · Separate classification and exemption from state taxation…
- 58.1-3508.1 · Separate classification of machinery and tools used in…
- 58.1-3508.2 · Separate classification of machinery and tools used in…
- 58.1-3508.3 · Separate classification of machinery and tools used…
- 58.1-3508.4 · Separate classification of machinery and tools used in…
- 58.1-3508.5 · Separate classification of machinery and tools used…
- 58.1-3508.6 · Separate classification of machinery and tools used…
- 58.1-3509 · Merchants' capital subject to local taxation; rate limit
- 58.1-3510 · Definition of merchants' capital
- 58.1-3510.01 · Separate classification of merchants' capital of…
- 58.1-3510.02 · Separate classification of certain merchants' capital of…
- 58.1-3510.4 · Short-term rental property; short-term rental businesses
- 58.1-3510.5 · Renter's certificate of registration