Source: https://vacode.org/58.1-3704/
Timestamp: 2020-08-09 03:10:00
Document Index: 66702760

Matched Legal Cases: ['§ 58', '§ 58', '§ 58', '§ 58', '§ 58', '§ 58', '§ 58']

License tax on merchants in lieu of merchants’ capital tax (§ 58.1-3704)—Virginia Decoded - Virginia Decoded
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§ 58.1-3704 License tax on merchants in lieu of . . .
§ 58.1-3704
License tax on merchants in lieu of merchants’ capital tax
Whenever any county, city or town imposes a license tax on merchants, the same shall be in lieu of a tax on the capital of merchants, as defined by § 58.1-3509; however, no county, city or town shall be required to impose either a license tax on merchants or a tax on the capital of merchants. The prohibition under this section shall not extend to short-term rental property as defined under § 58.1-3510.4.
Code 1950, § 58-266.1; 1950, p. 155; 1956, c. 242; 1964, c. 424; 1968, c. 619; 1970, cc. 231, 547; 1974, cc. 196, 438; 1975, cc. 23, 621; 1976, cc. 521, 719; 1977, c. 320; 1978, cc. 772, 799, 817; 1979, cc. 565, 568, 570; 1980, cc. 318, 736; 1981, cc. 419, 636; 1982, cc. 348, 548, 552, 554, 558, 633; 1983, c. 554; 1984, cc. 247, 675, 695; 1999, c. 200; 2010, cc. 255, 295.
If you’re reading this for anything important, you should double-check its accuracy—read § 58.1-3704 on the official Code of Virginia website.
SB355: Short-term rental property; shall classify as a separate classification of merchants' capital. (passed)